Since David Solomon became Goldman Sachs CEO, more than 85 partners have left. See the running list here.
- David Solomon has been Goldman Sachs’ CEO since 2018, succeeding Lloyd Blankfein.
- He’s made big changes to Goldman and its leadership, and a number of senior execs have left.
- Julian Salisbury, CIO of asset & wealth management, is heading to Sixth Street.
Julian Salisbury is leaving the bank after 25 years, becoming the latest in a long line of partners to leave since David Solomon became CEO.
Salisbury was the chief investment officer of Goldman’s crucial asset and wealth management division. He will not be replaced, as previously reported by Insider.
Takashi Murata, co-head of Asia Pacific private investing and global co-head of real estate at Goldman Sachs’ asset management unit, is also leaving.
According to Insider, 88 partners have left the bank since Solomon became CEO in 2018.
Goldman and Solomon have fought back against claims that turnover is excessive or detrimental to the bank, most recently at this year’s investor day, when Solomon was asked about departures amid concerns about partner morale.
“There are people who work here. They put in 25 years. They have a successful career. They leave and do other things. They develop into excellent customers. That is part of Goldman Sachs’ virtuous ecosystem,” he added.
“Year to date, our turnover is at a 5-year low, not just for partners, but for the entire firm,” Solomon said.
To be sure, Goldman Sachs partners have gone on to do bigger and better things, from Hank Paulson to Steve Mnuchin, long before Solomon took over. However, Solomon has made significant changes since taking over, including shrinking the bank’s partner ranks in order to restore its exclusivity.
He has reorganized the bank twice, most recently last year when the asset management unit, which Salisbury co-led, was combined with wealth management and placed under the direction of Marc Nachmann.
Meanwhile, Solomon’s costly foray into consumer banking enraged some longtime Goldman partners, as previously reported by Insider. Deep bonus cuts have also occurred as a result of Goldman’s costly bets on new businesses and an industry-wide drop in M&A and IPOs.
Goldman’s partners are members of an exclusive club with special benefits and privileges. After a record-breaking year in 2021, the bank gave its partners millions in one-time bonuses on top of their performance bonuses to ward off aggressive poaching during a hiring frenzy. They are the bank’s most senior employees and are responsible for its strategy.
For the majority of its existence as a company, Goldman was a partnership; Solomon is only the third person to lead Goldman since its 1999 IPO. His mandate has included pushing the bank to operate more like a publicly traded corporation.
The following is a running list of Goldman’s partners who have retired or moved on to roles at other companies since Solomon became CEO. Because Goldman reorganized its divisions last fall in response to the departure of some of these partners, their mapping to current business lines may be inaccurate.
Asset and wealth management
Margaret Anadu
Jennifer Barbetta
Jonathan Bayliss
Jonathan Beinner
Kane Brenan
Beth Cogan
Chris Crampton
Joe Duran
Sam Finkelstein
Alan Kava
Katie Koch
Eric Lane
Deborah Leone
Brendan McGovern
Heather Miner
Takashi Murata
Tim O’Neill
Nick Phillips
Sumit Rajpal
Craig Russell
Julian Salisbury
Luke Sarsfield
Gaurav Seth
Stephanie Smith
Oliver Thym
Andrew Wolff
Corporate
Bentley De Beyer
Russell Horwitz
Andrew Philipp
Stephen Scherr
Karen Seymour
Jake Siewert
Global banking and markets
Chuck Adams
Frederick Baba
Dean Backer (retired from the partnership)
Steven Barg
Stacy Bash-Polley
Gerard Beatty (retired from the partnership)
Robert Berry
Mike Blum
Michael Carr
David Casner
Marty Chavez
Sara Devereux
Arun Dhar
Carlos Fernandez-Aller
Justin Gmelich
Ken Hitchener
Dane Holmes
Adam Korn
Bruce Larson
Gregg Lemkau
Gavin Leo-Rynie
Brian Levine
Jack McCabe
Ezra Nahum
Jeff Nedelman
Dan Oneglia
Greg Palm
Dina Powell McCormick
Andrew Rennie
Scott Rofey
Paul Russo
Clare Scherrer
Konstantin Shakhnovich
Josh Struzziery
Ram Sundaram
Rob Sweeney
Dan Swift
Chris Taendler
Joe Todd
Eiji Ueda
Jeff Verschleiser
Robin Vince
John Willian
Rana Yared
Hansong Zhu
Platform solutions
Swati Bhatia
Adam Dell
Omer Ismail
David Stark
Harit Talwar
Research
Amanda Hindlian
Richard Manley
Steve Strongin
Technology
John Madsen (retired from the partnership)
Jeff Wecker
Elisha Wiesel