Three Irish partners at Goldman Sachs
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.
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