Goldman Sachs has elevated a record 13 engineers to partner, highlighting the rising influence of technology specialists within the bank’s traditionally banker-dominated elite. The total partner class of 109 is the largest since David Solomon became CEO in 2018, driven by a trading and dealmaking boom under Donald Trump’s second administration. Profits rose to $5.29bn in the third quarter, fueled by equities trading and investment banking fees.
More than half of the new partners hail from global banking and markets, while nearly a third come from asset and wealth management. By year-end, Goldman will have over 500 partners—roughly 1% of its workforce—and more than 100 female partners, a record. However, the bank declined to release gender and ethnicity breakdowns, citing a changing legal environment amid the Trump administration’s crackdown on DEI policies.
The partner title, though no longer formal since the bank’s 1999 IPO, remains a prestigious status symbol, offering salaries of at least $1mn, bonuses, and access to exclusive events. This year, 43% of partners are based outside the Americas, with 27 in EMEA and 20 in Asia. Former partners include Gary Gensler, Steven Mnuchin, and Malcolm Turnbull.
The biennial selection process involved over 1,000 interviews.
Source: Financial Times Companies · Summarized by HeadlinesBriefing