Goldman Sachs Group promoted 69 people to its top rank Wednesday.
According to numbers, 26% of the new partners are women, a significant fulfillment toward Goldman’s new Chief Executive David Solomon’s promise to bridge gender gap in the firm, reported Wall Street: The women partners include Katrien Carbonez, a mergers-and-acquisitions banker; Akila Raman, a capital-markets banker; Stephanie Rader, a credit-sales executive; and Heather Miner, Goldman’s head of investor relations. The promotions indicate that “17% of Goldman’s partners will be women.”
In addition, the larger portion of Golman’s new partners are in trading division, where exits and substandard results have impacted the partners’ ranks; and 21% are investment bankers—the division known to be the bank’s strongest. This includes London-based trading executives Beat and Niharika Cabiallavetta.
Previously, Goldman partners split the firm’s profits and losses equally. However, the process is different now: partners own less than 5% of the firm’s equity. The process concluded Tuesday night, and Solomon delivered the news the following day.