In 12 years at Goldman Sachs, Greg Smith was probably already being lavishly rewarded (and by "probably" I mean "undoubtedly"). He quit the controversial investment bank in spectacular fashion, via an op-ed in the New York Times. Now he's scored a $1.5 million book deal. This is from The Wrap:
The former investment banker nabbed a $1.5 million advance from Hachette Book Group this week for a memoir based on his time at the firm, according to a report in the New York Post.
A spokesperson for the publisher did not immediately respond to requests for comment, and Smith's agent Peter [sic] Fedorko declined to comment.
The Post reports that Hachette beat out Penguin for rights to Smith's debut book.
There's a little publishing inside baseball there at the end. All it means is that Smith's book was so coveted that it inspired a bidding war.
Also, I think by "Peter Fedorko" they mean "Paul Fedorko," an agent at an agency that's more of a player in TV than books. Wonder what means for Mr. Smith's future? Could there be a cameo in upcoming Muppets movie? Some kind of reality show involving furry, colorful puppets and high finance? Time will tell.