Goldman Sachs highlights diversity in new managing director class

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FILE PHOTO: The Goldman Sachs company logo is on the floor of the NYSE in New York

By Matt Scuffham

NEW YORK – Goldman Sachs Group Inc on Wednesday promoted 643 people to managing director, the bank’s second-highest rank behind partner, including a higher proportion of women and Black, Asian and Latino workers.

Goldman has set some of the most aggressive and specific goals among the big banks, requiring that more Black, Latino and female professionals be interviewed and hired for jobs there. The bank says it interviews at least two diverse candidates for any senior job opening.

Thirty percent of those promoted were women, the bank said in an email sent to all stuff and posted on its website. That compared with 29% in 2019.

Twenty-eight percent of those promoted were Asian, up from 26% in 2019. Five percent were Black, compared with 4% in 2019 and 5% were Hispanic, up from 2% in 2019.

Three percent were from the LGBTQ+ community, compared with 2% in 2019.

The appointments also reflected Goldman’s increasing presence in locations outside of major financial centers, particularly Bengaluru, India; Salt Lake City; and Dallas.

Seventy-two of the promotions were in those “strategic locations,” twice the number in 2019.

(Reporting by Matt Scuffham; editing by Jonathan Oatis)