Goldman Sachs Promotes Largest Partner Class Since 2018

Goldman Sachs has promoted 95 executives to its partnership, marking the largest class since David Solomon became CEO in 2018. This includes the highest number of German and Japanese nationals promoted in over a decade, reflecting the bank's strategic focus on these regions. The diverse class also includes a record number of female and Hispanic executives, emphasizing Goldman's commitment to diversity. The promotions are part of a biennial tradition aimed at bolstering key businesses in investment banking and asset management. The new partners will earn substantial compensation, with base salaries nearing $1 million and additional bonuses. These promotions coincide with a resurgence in Wall Street deals, contributing to a 45% surge in Goldman’s profits in the third quarter of this year.