Goldman Sachs Chooses Young & Rubicam to Change Image

Goldman Sachs Group, Inc., the worldwide investment banking and securities firm headquartered in Lower Manhattan, New York, has started its first national advertising campaign since it went public in 1999, partnering with advertising agency Young & Rubicam.

After years of being seemingly oblivious to the criticisms leveled its way including the recent accusations that Goldman Sachs profited during the financial crisis has put them on the defensive.  In an attempt to repair their damaged public image, Goldman Sachs’ new advertising campaign is being managed by Young & Rubicam, a communications and marketing company that specializes in advertising and brand identity consultation, something Goldman Sachs is focused on currently.

Full-page advertisements have already started running this week in newspapers such as The New York Times, and The Wall Street Journal.  Wednesday’s advertisement featured several wind turbines with a close-up shot of a worker, with the tagline “Progress is Everyone’s Business.”  The campaign will continue with printed advertisements in local, regional, and national newspapers and with banner advertisements on various websites.  David Wells, a Goldman Sachs spokesperson, said, “We need to provide a broader audience a better understanding of who we are and what we need to do.  This is meant to help do that.”