Three Ir­ish part­ners at Gold­man Sachs

The Irish Times - Business - - BUSINESS | NEWS -

Sun­day, New York Marathon; Wed­nes­day, en­try into one of Wall Street’s most pres­ti­gious clubs. It’s been quite the week for Barry O’Brien, an in­vest­ment banker who was among the 69 traders, risk ex­perts, len­ders and other pro­fes­sion­als el­e­vated to Gold­man Sachs’s ex­clu­sive part­ner­ship this week.

“It’s def­i­nitely been a good few days,” said Mr O’Brien, the 41-year-old Lim­er­ick man who co-heads Gold­man’s tech­nol­ogy, me­dia and tele­coms M&A team. “It’s a very as­pi­ra­tional ti­tle and I’m glad to get here to­day.”

Mr O’Brien is one of three Ir­ish peo­ple to make this year’s part­ner­ship list; the oth­ers are Dublin City Univer­sity com­puter ap­pli­ca­tions grad­u­ate Sinéad Strain and Heather Kennedy Miner, Gold­man’s head of in­vestor re­la­tions.

Golden ticket

Although Gold­man has not been a true part­ner­ship since its 1999 stock mar­ket list­ing, part­ner ti­tles are still a golden ticket, of­fer­ing base salaries of $950,000 (€831,871), mem­ber­ship of the bank’s most in­flu­en­tial com­mit­tees and in­vest­ment op­por­tu­ni­ties.

On Wed­nes­day, Gold­man’s new chief ex­ec­u­tive David Solomon and pres­i­dent John Wal­dron phoned the 69 peo­ple who made it.There are now 484 part­ners in a firm of 36,600 staff.

Women were bet­ter rep­re­sented than ever, ac­count­ing for 26 per cent of this year’s crop, though even af­ter the lat­est pro­mo­tions women will hold just 17 per cent of the to­tal part­ner seats.

“We could con­tinue to do a much bet­ter job on that front, and with David at the helm I think we will do a much bet­ter job,” said Univer­sity Col­lege Dublin grad­u­ate Mr O’Brien. “It’s very im­por­tant for all the busi­nesses that we’re in.”

This year’s part­ners group was the small­est in 20 years. They typ­i­cally re­main in situ for six to eight years, sources at the bank said, and ev­ery year a hand­ful qui­etly step back. Some do it by choice, some are asked to make way for oth­ers. – Copy­right The Fi­nan­cial Times Limited 2018

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