Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Stock

Goldman Sachs appoints 95 new partners, including 26 women

By Saeed Azhar

(Reuters) – Goldman Sachs promoted 95 bankers to its elite partner ranks, including 26 women, the Wall Street giant said on Thursday.

The appointments, which occur every other year, rose from 80 partners named in 2022.

The partnership is a legacy of Goldman’s era as a private firm, when partners pooled their own money to support trading and investment banking, and split the resulting profits or losses.

The cohort, which has more than 400 members including Goldman’s top leaders, remains an important part of its culture even after the company went public in 1999.

“Members of the partner class of 2024 have contributed meaningfully to our business and culture,” CEO David Solomon said.

The promotions reflect growth in Goldman’s global banking, markets, asset and wealth management businesses, he added.

The class is 18% Asian, 6% Hispanic or Latino and 4% Black, with the percentage Black partners in the cohort dropping from 9% in 2022. Women made up 27% of new partners, compared with 29% in 2022.

The promotions take effect on Jan. 1.

Goldman Sachs’ profit beat estimates in the third quarter, fueled by a rebound in bond sales, stock offerings and mergers that its executives expects to continue into next year.

“We are in a recovery period and my expectation is you will see more robust capital markets activity” in the next two years, Solomon told a conference last month.

The company has refocused on its traditional mainstays – investment banking and trading – after a consumer business that Solomon championed lost billions of dollars.

This post appeared first on investing.com
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    The Gateway Pundit, a far-right website, published a note from its editor on Saturday acknowledging that two election workers in Georgia did not engage...

    Latest News

    New majorities in Congress, particularly when the incoming party has a new leader, offer the rare chance for the institution to take a breath...

    Investing

    JAKARTA (Reuters) -Indonesia has asked Alphabet (NASDAQ:GOOGL)’s Google and Apple (NASDAQ:AAPL) to block Chinese fast fashion e-commerce firm Temu in their application stores in...

    Latest News

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com