Goldman Sachs to name fewer than 60 partners, but they’ll get better perks

first_img Anna Menin Such a move would restore a valuable financial perk that has not been available to partners in over a decade. whatsapp Starting this year, partners will receive carried interest – a portion of future profits taxed at low rates – in four of Goldman’s private investment funds, according to the WSJ. whatsapp Goldman Sachs partners own a stake in the lender and are its most elite employees. The bank currently has around 500 partners, but their ranks have been shrinking under chief executive David Solomon.  Goldman Sachs chief executive David Solomon has sought to reduce the number of partners at the bank (AFP via Getty Images) Also Read: Goldman Sachs ‘to name fewer than 60 partners’ in 2020 The bank’s new class of partners, due to be promoted next month, is likely to be Goldman’s smallest cohort since the 1990s, the Wall Street Journal reported.   Tuesday 6 October 2020 3:28 pm City A.M. has reached out to Goldman Sachs for comment.  Show Comments ▼ Goldman Sachs will reportedly name no more than 60 partners this year, but partners will be given more financial perks as the investment banking giant seeks to make its partnership more exclusive.  Goldman Sachs chief executive David Solomon has sought to reduce the number of partners at the bank (AFP via Getty Images) More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Goldman Sachs ‘to name fewer than 60 partners’ in 2020 Share Goldman Sachs chief executive David Solomon has sought to reduce the number of partners at the bank (AFP via Getty Images) Also Read: Goldman Sachs ‘to name fewer than 60 partners’ in 2020 The bank will lend partners up to $500,000 (£385,000) to increase their personal investment, the paper reported.  Solomon, who has led the bank since 2018, has moved to make Goldman less top-heavy and to increase the exclusivity of the partnership. In 2019, some 69 new partners were appointed.  Tags: Goldman Sachslast_img

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