Goldman Names 465 New Managing Directors, Fewer Than Last Cycle

(Bloomberg) -- Goldman Sachs Group Inc. named 465 members to its latest class of managing directors, the firm’s second-highest rank.

• The managing directors hail from 36 Goldman offices and will take on the new titles Jan. 1, according to a statement Thursday.

Key Insights

• The first group under Chief Executive Officer David Solomon is 44 employees smaller than the one named in 2017. Goldman names new managing directors every other year.
• Solomon also announced a smaller class of partners last year shortly after he took the helm. That move was meant to highlight the “aspirational nature of the partnership,” Solomon wrote in a memo at the time.
• Goldman said the 2019 class is the most diverse in its history, as 29% are women and 4.3% are black.

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• Amid some high-level departures, Goldman’s partnership ranks have declined this year, is in line with past cycles.

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