Goldman Sachs Ousts Senior Mideast Banker Over Compliance Breach - Bloomberg

Goldman Sachs Ousts Senior Mideast Banker Over Compliance Breach - Bloomberg:

Goldman Sachs Group Inc. dismissed a senior banker in the Middle East over compliance violations, according to people with knowledge of the matter, adding to the U.S. bank’s woes in the region.

Martin Weber, who’d been with the bank for about 20 years, ran the financing division in the Middle East and North Africa, the people said, asking not to be identified because the matter is private. Weber relocated to Dubai last year to take on the role and reported to regional management, as well as executives in London, they said.

The decision to terminate Weber’s contract came after the firm concluded in an internal review that actions tied to due diligence were unacceptable for someone of his seniority, one of the people said.