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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”

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Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Finance

Goldman Sachs promotes 78 employees to elite partner status

By
Laura Lorenzetti
Laura Lorenzetti
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By
Laura Lorenzetti
Laura Lorenzetti
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November 12, 2014, 1:53 PM ET
Goldman Sachs Lost More Than $100 Million On 3 Days In Second Quarter
The new headquarters building of Goldman Sachs Group Inc. stands at 200 West Street in New York, U.S., on Monday, Aug. 9, 2010. Goldman Sachs Group Inc., the bank that makes the most revenue trading stocks and bonds, lost more than $100 million in three days during a 10 day period in the second quarter, ending a three-month streak of loss-free days at the start of the year. Photographer: Ramin Talaie/Bloomberg via Getty ImagesPhotograph by Ramin Talaie — Bloomberg/Getty Images
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Goldman Sachs has promoted 78 employees to partnership level, according to an internal e-mail shared with Fortune.

Reaching partner is an important status symbol at the company, and it comes with more responsibility and higher pay. The members of the new elite group, who will take up their new roles in 2015, bring the total number of Goldman Sachs (GS) partners to about 467, or 1.6% of full-time headcount.

“These appointments recognize some of Goldman Sachs’ most valued senior professionals, their embodiment of our culture and values, and their leadership of the firm’s business and people,” the memo said.

Partnerships are announced every two years. Previous rounds of promotions added 70 new partners in 2012, and 111 partners in 2010.

While the bank didn’t release diversity numbers, it did note that 14% of the new partners are women, or a total of 11 appointees. That’s the same percentage as two years ago when 10 of the 70 promoted to partnership level were women.

This year’s class of partners comes from across the firm, including 23 from investment banking, 25 from securities, 11 from investment management, four from merchant banking, three from research and 12 from back- and middle-office roles.

One notable new partner is Jake Siewert, the head of corporate communications for Goldman. He previously served as the White House press secretary under President Bill Clinton and as an advisor to former Treasury Secretary Timothy Geithner prior to joining the bank in March 2012.

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