goldman sachs india: Goldman Sachs promotes 30 executives as MDs in India, the largest ever in the country

goldman sachs india: Goldman Sachs promotes 30 executives as MDs in India, the largest ever in the country

Leading global investment bank Goldman Sachs has promoted 30 executives in its India offices to the managing director (MD) position, the largest ever group of new MDs the company has promoted in the country.

The highest ever number of new MD promotions in India is a reflection of the company’s investment in the country, a key footprint and a deep fintech hub globally. In the 2019 MD promotion cycle, the company had 18 managing director promotions in India, which represents the second largest presence of the firm outside of New York.

Globally, the company promoted 643 employees as MDs this year, which includes 71 Indians, making it the largest MD class to date globally, the company said in a note. The new MDS will take charge on January 1.

In India, there was one managing director promotion in the Mumbai office and 29 promotions in the company’s Bengaluru office. The firm opened a new Hyderabad office in July this year.

Goldman Sachs has more than 8,000 employees in India and employs more than 43,000 professionals globally.

The Bengaluru and Hyderabad offices represent a ‘deep fintech hub’ of the firm and a key enabler of its existing and new businesses.

Over 25% of the promotions are women and more than 50% are from engineering functions.

Globally, the promotions this year are reflective of the firm’s strategic priorities, including investments in core businesses (investment banking division and global markets); growth strategies (asset management, consumer and engineering); and strategic locations (particularly Bengaluru, Salt Lake City and Dallas), the company said.

In the entire cohort of MDs promoted globally this year, overall 20% of the promotions are from engineering functions, while 72 from strategic locations represents 11% of the overall class and is two times the total number promoted in 2019.

This is also the most diverse group with 30% women, 28% Asian and 3% LGBTQ, according to the company.

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