Global financial services giant Goldman Sachs has promoted 266 persons, including at least 16 of Indian origin as Managing Director, while three others of Indian origin have been named as Partners at the group.
The U.S.-based group has named 70 individuals as its Partners and has announced a list of 266 persons to become Managing Directors with effect from January 1, 2013.
The list of 70 new partners includes at least three persons of Indian origin — Vivek Bantwal, Amol Naik and Gaurav Seth.
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More than half of the new partners would be based in Americas. Besides, there are at least 16 persons of Indian origin among 266 individuals being promoted as Managing Directors.
These include Nilesh Banerjee, Dinkar Bhatia, Meera Bhutta, Nikhil Choraria, Pooja Goyal, Dinesh Gupta, Manav Gupta, Hari Moorthy, Mitesh J. Parikh, Nita Patel, Sameer Ralhan, Akshay Sahni, Gunjan Samtani, Kunal Shah, Amit Sinha and Monali Vora.
The group announces a list of Managing Directors every year, while the list of Partners are generally announced once in two years.
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At the Goldman Sachs group, Managing Director’s position is one rank below that of the Partner. Last year, it had promoted 261 executives to the position of managing director.
The Partners are also known at the group as ‘Participating Managing Directors’. Typically, a managing director at Goldman Sachs earns a base salary of $500,000, while that of Partners is in the range of $900,000. Both these classes of senior management executives are also paid a considerable sum as bonuses. The group has close to 32,600 employees across the world now, down from about 34,200 a year ago.