Goldman Sachs has just named Eric Lane as co-chairman of the
firm’s partnership committee.
Lane coheads the expense-management division — a company that
has been submitting sturdy development — with Tim O’Neill. Pablo Salame,
cohead of the securities division at Goldman, is the other
Lane joined the financial institution again in 1996, making husband or wife in 2002
even though however in his late 20s, making him 1 of the firm’s
youngest at any time associates. He was COO of the expense-management
division before having the get in touch with up to cohead the company in
The partnership committee experienced previously been headed by Michael
who retired from the business at the conclude of 2016. Before
Gary Cohn was the head. Cohn also remaining the business in
2016 and has considering the fact that joined the Trump administration.
While Sherwood and Cohn have been equally traders by background,
Eric Schwartz, who headed the partnership committee for a time period
in the mid-noughties, arrived from the expense management
The rank of Goldman Sachs husband or wife is however 1 of the most sought
after job titles on Wall Road. Those who get termed up are
given a comfortable elevate and a reliable chunk of the bonus pool.
They are also furnished expense options not offered to
other employees. Their working day-to-working day operate lives do not modify
while they are anticipated to just take on more duties in the
kind of husband or wife meetings and firmwide committees.
The financial institution named 84 associates
in the very last advertising round in 2016, which includes ten from the
expense management division. At this time, more than
four hundred of Goldman’s approximately 35,000 employees are associates.
The expense management company has been a vital target for
Goldman Sachs in excess of the very last few yrs. The business finished
2016 with $1.38 trillion in assets under supervision, up
$127 billion. Financial commitment management produced $five.eight billion in
revenues in excess of the year, putting it narrowly powering Goldman Sachs’
famed expense banking division and the firm’s equities sales
and buying and selling company in conditions of revenue
Browse the full memo under.
February eight, 2017
Eric S. Lane Named Co-Chairman of the Partnership
We are delighted to announce that Eric Lane, world-wide co-head of
the Financial commitment Administration Division (IMD), will join Pablo Salame
as co-chairman of the Partnership Committee. Edith Cooper
will proceed to serve as vice chair of the committee.
Established in 1995, the mission of the Partnership Committee
is to steward the firm’s culture as outlined by our Enterprise
Principles and specifications, maintain the spirit of partnership,
encourage and greatly enhance the rewards of partnership, and progress the
lengthy-expression achievement of Goldman Sachs as a result of the cultivation of its
recent and upcoming leaders.
Eric is a member of the Administration Committee and the Firmwide
Consumer and Enterprise Benchmarks Committee (CBSC). He is also
a member of the IMD CBSC and the Petershill Committee. He
assumed his recent part as world-wide co-head of IMD in 2011.
Eric joined Goldman Sachs in 1996. He was named managing
director in 2001 and husband or wife in 2002.
Be sure to join us in congratulating Eric on his additional
duties and wishing him continued achievement.
Lloyd C. Blankfein
David M. Solomon
Harvey M. Schwartz