Gold­man Sachs part­ner list drops

The Pak Banker - - Front Page -


Gold­man Sachs Group Inc. (GS), which is sched­uled to an­nounce its new class of part­ners, next week, has 407 mem­bers of that elite group, down 31 in about nine months, ac­cord­ing to a com­pany fil­ing.

That's be­cause 33 peo­ple listed as part of the part­ner­ship in a Fe­bru­ary doc­u­ment weren't in­cluded in a fil­ing re­leased Nov. 2. Two names -- Mark Schwartz, hired in June to run the com­pany's busi­ness in Asia, and Richard Phillips, an Aus­tralian na­tional -- were added to the lat­est fil­ing.

Gold­man Sachs, the fifth­biggest U.S. bank by as­sets, se­lects em­ploy­ees ev­ery two years to a so-called part­ner­ship more than 13 years af­ter the firm be­came a pub­licly traded com­pany. The part­ners, who par­take in a spe­cial com­pen­sa­tion pool, owned about 11.4 per­cent of the com­pany's shares as of Oct. 22, down from 11.8 per­cent on Feb. 1, the fil­ings show. David Wells, a spokesman for the bank, de­clined to com­ment.

Some of the names miss­ing from the lat­est fil­ing had al­ready been re­ported, such as for­mer Se­cu­ri­ties Division Co­Head David B. Heller and Lu­cas van Praag, the for­mer head of cor­po­rate com­mu­ni­ca­tions. Oth­ers hadn't been an­nounced.

Names dropped from the lat­est list in­clude in­vest­ment bankers Ja­son G. Cahilly, who spe­cial­izes in ad­vis­ing me­dia and telecom­mu­ni­ca­tions com­pa­nies; Alas­tair J. Hunt, who works with busi­nesses in­volved in nat­u­ral re­sources; Kevin A. Quinn, a spe­cial­ist in semi­con­duc­tor firms and Richard A. Kim­ball Jr., who worked with the health-care in­dus­try.

An­thony W. Ling, who left his role as head of Euro­pean eq­uity re­search in 2010 to fo­cus on other in­vest­ment re­search ini­tia­tives, was also dropped from the lat­est part­ner list, as was Lind­say P. LoBue, who had worked in credit-de­riv­a­tive sales, and Kaysie P. Uni­acke, who held se­nior roles in the as­set- man­age­ment division.

Last week's fil­ing also dis­closed stock sales in Oc­to­ber by some of Gold­man Sachs's most se­nior ex­ec­u­tives. Ti­mothy J. O'Neill, co-head of Gold­man Sachs In­vest­ment Man­age­ment, sold 32,021 shares on Oct. 17 for $124.36 apiece, for a to­tal of $3.98 mil­lion.

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