Goldman’s New Crop of MDs & Partners
By BankersBall on Nov 2, 2008 in Cube Life, Famous Bankers
Twas a special day for some.
Last Wednesday Goldman promoted 94 new partners and last Thursday, 259 managing directors.
The MD class was approximately 50 percent from the Americas, 20 percent from Asia and 30 percent from EMEA, while the partner class was approximately 60 percent from the Americas, 25 percent in EMEA and 15 percent in Asia, according to Bloomberg and the Telegraph.
Whether it’s semantics or an actual change, most coverage referred to the partners as “partners” instead of the usual “PMDs” or partner managing directors. We’re assuming they’re the same thing unless something has changed — readers?
The partners/PMDs are named every two years and the status is as of the first month of the next fiscal year. Previously, the PMDs shared in a bonus pool that divvied up approximately 20% of total revenues. In 2005, the 287 PMDs got an average of $7MM each, according to the NYT. Of course things have changed. The bonus pool for this year is the smallest ever for Goldman since becoming a public company. And besides the smaller bonus pool, GS is also now a bank holding company.
Says Henry Higdon, a financial recruiter: “Is the prospect of being a Goldman partner as bright as it used to be? The answer is definitely no … The days are gone when these people were earning over $20 million.” (emphasis added)
The last naming, around this time in 2006, resulted in 115 new PMDs, of which 12 were women. According to Bloomberg, the total number of PMDs is 443.
Given that Goldman typically keeps the PMD to normal employee ratio at about 1 percent, some existing PMDs will likely get de-partnered, notes the FT. With total headcount at the end of Q3 at 32,600, and 10% of its workforce on the brink of getting laid off, 443 PMDs is a few too many.
For coverage on which areas of Goldman the PMDs came from, check out this coverage.
Goldman’s New Partner Managing Directors
Paul R. Aaron
Sean J. Gallagher
David M. Marcinek
Heather K. Shemilt
Sanggyun Ahn
Gonzalo R. Garcia
Blake W. Mather
Magid N. Shenouda
Philip S. Armstrong
Paul E. Germain
John J. McCabe
Suhail A. Sikhtian
Charles Baillie
Paul Graves
John J. McGuire Jr.
Gavin Simms
Philip R. Berlinski
E. Glenn Hadden
Milton R. Millman III
Marshall Smith
Robert A. Berry
Jonathan J. Hall
Christopher Milner
John D. Storey
Oliver R. Bolitho
Jan Hatzius
Christina P. Minnis
Patrick M. Street
Patrick T. Boyle
Martin Hintze
Takashi Murata
Ram K. Sundaram
Stephen Branton-Speak
Todd Hohman
Todd G. Owens
Robert J. Sweeney
Anne F. Brennan
James P. Houghton
Craig W. Packer
Michael J. Swenson
Samuel S. Britton
Paul J. Huchro
Gilberto Pozzi
Jeffrey M. Tomasi
Jason G. Cahilly
Hidehiro Imatsu
Lora J. Price
David G. Torrible
Martin Cher
Alan S. Kava
Lorin P. Radtke
Frederick Towfigh
Denis P. Coleman III
Dimitrios Kavvathas
Richard N. Ramsden
Greg A. Tusar
Kevin P. Connors
Larry M. Kellerman
Michael J. Richman
Andrea A. Vittorelli
James V. Covello
Hideki Kinuhata
Michael Rimland
Paul Walker
Jeffrey R. Currie
Michael E. Koester
Luigi G. Rizzo
Alasdair J. Warren
Albert F. Dombrowski
J. Christopher A. Kojima
Scott A. Romanoff
Dominic A. Wilson
Thomas M. Dowling
Michiel P. Lap
Julian Salisbury
Steve Windsor
L. Brooks Entwistle
Brian J. Lee
Paul D. Scialla
Martin Wiwen-Nilsson
Stephan J. Feldgoise
David A. Lehman
Peter E. Scialla
Denise A. Wyllie
Benjamin W. Ferguson
Deborah R. Leone
Peter A. Seccia
Han Song Zhu
Wolfgang Fink
John S. Lindfors
Rebecca M. Shaghalian
Timur F. Galen
H.C. Liu
Devesh P. Shah


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