How to identify Goldman Sachs' newly disgruntled MDs
Having a rank above managing director, which you promote people into biannually, has its disadvantages. Any managing director (MD) doesn't get promoted is not happy, particularly if they had reason to believe that they deserved the rise.
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This is the situation that Goldman Sachs now finds itself in. Following last week's 95 partner promotions, Goldman now has various MDs who'd hoped to become partners but didn't. Headhunters globally are assembling lists of their names so that they can capitalize on their discontent and poach them for rival firms.
«We're working on the list now,» says the head of one international search firm. «We are on the lookout [for the unhappy MDs],» says another, before suggesting that it's predatory behaviour to name the actual names of the MDs who were overlooked.
Without naming names, it's still pinpoint where the most woebegone post-partner Goldman MDs are likely to be located.
As the charts below show, this year's Goldman partner class was skewed away from Europe and away from Asia (again) and towards America, implying that MDs in Europe might be peeved. What it doesn't reveal, though, is that people in London are likely to be especially disgruntled: five of this year's new partners are in Paris and one is in Frankfurt, compared to none in 2022. London partners are therefore at a multiyear low. Equally notable is that none of this year's new London partners are investment banking coverage teams. If you're searching for disgruntlement, this seems fertile ground in which to start.
There are a few other pointers, too. As the chart below shows, a disproportionate number of this year's new Goldman Sachs partners were hired externally rather
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