Is Goldman Sachs losing more partners than before as David Solomon seeks to transform the bank? Or are the departures under the CEO par for the course – part of an ever-changing group of leaders? To better answer that question, my colleagues and I (Dakin Campbell, CFA, Kaja Whitehouse, Walter Hickey) set out to get the data. We tracked down every partner who has left Goldman from the beginning of 2019 through today and compared it with the bank's historical rate of partner departures. See the list and how we created it: https://lnkd.in/eFza-dTr
David Solomon's leadership style has come under recent scrutiny, including criticism that he has been driving out partners at an unprecedented rate. Media reports have documented the exits for some of the bank's brightest stars: heavy hitters in trading and investing like Julian Salisbury and Joe Montesano; well-respected bankers like Dina Powell McCormick, Russ Hutchinson, and Tammy Kiely. Internally, some partners have expressed concern that if Goldman loses too many senior leaders, its bench will become too thin, and performance will suffer. Insider found 210 partners who left Goldman Sachs Sachs between 2019 and today. Assuming no other partners leave this month, that breaks down to an average annual departure rate of 43.4, slightly above Goldman's projections of 30 to 40 annual partner departures. See the list to learn how partner departures have changed under Solomon. Read the full story by Dakin Campbell, Emmalyse Brownstein, Walter Hickey, and Kaja Whitehouse: https://lnkd.in/eFza-dTr (Credit: Getty Images; Jenny Chang-Rodriguez/Insider) #finance #goldmansachs #partners #davidsolomon
