Wall Street has plenty of worries heading into autumn, including the stability of the euro zone, persistent United States unemployment and the historically volatile October stock market.
Goldman Sachs has an additional concern: Greg Smith’s book.
Mr. Smith’s memoir, “Why I Left Goldman Sachs,” is set for publication on Oct. 22. The release date comes just seven months after Mr. Smith publicly resigned from the bank with an opinion article in The New York Times detailing his disappointment with Goldman’s business practices that reflected, more broadly, a corrosive culture at the nation’s largest banks.
The article struck a nerve. Within 24 hours, it had more than three million views online. Publishers clamored for the rights to a book. Grand Central Publishing, a division of the Hachette Book Group, secured a deal, offering Mr. Smith an advance of close to $1.5 million, according to people with direct knowledge of the negotiations.