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&lt;p&gt;First, amid the bank&#39;s SEC lawsuit, CEO Lloyd Blankein went on every TV station and web site to show the American public that Goldman Sachs was not in fact a group of sea dwellers with fangs out for blood. Then, after the bank put the suit behind it (becoming $550 million poorer), it took out full-page print ads, touting its successful efforts of helping the little guy as well as Mother Earth. And, this month, it made yet another PR move: hiring Bess Joffe as a VP in its investor relations unit, perhaps signaling that the firm is (for real) planning to improve its public disclosure practices.&lt;/p&gt;&lt;p&gt;Joffe &quot;had worked for London-based shareholder-advocacy firm Hermes Equity Ownership Services&quot; and &quot;has pushed companies to change their boards and to improve disclosure.&quot; In fact, Bess was instrumental in the Bank of America shareholder vote that separated the firm&#39;s CEO and chairman roles, stripping Kenny Lewis of his chairmanship and spelling the beginning of the end of the former chairman and CEO&#39;s tenure at BofA.&lt;/p&gt;&lt;p&gt;Joffe has been outspoken against Wall Street pay practices (she is said to believe that compensation should be tied to long-term shareholder gain), so the move to hire her could be seen as a bold one that will (finally) create some real changes at Goldman. That is, if the bank plans on taking her advice, and hasn&#39;t just put Joffe on the payroll to further dress the windows of its aquarium.&lt;/p&gt;

Derek Loosvelt

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