The Goldman Sachs Group Inc., an American multinational investment banking firm, names a new class of managing directors every other November and inducts them the following January. (Photo : REUTERS)
Six Chinese employees from the mainland, including two women, have been promoted to managing director by Goldman Sachs Group Inc. The promotion will take effect beginning Jan. 1, 2016, according to a report by China Daily.
The report said that the six Chinese employees were part of the newly selected 425 managing directors of Goldman.
The report added that almost one-third of the assigned managing directors of the company are born after 1980.
Among the batch of newly promoted employees, 106 are women, a quarter of the total and the biggest percentage in a single year.
Goldman Sachs had its last "promotion year" in 2013 when 280 employees were promoted to managing director. Only two Chinese were named managing directors at that time.
This year, three employees of the Investment Banking Department--Jin Lei, Pei Xi and Wu Jiahong--and three employees from separate departments--Donald Lu from the Research Department, Jenny Meng from the Financial Department and Alex Wang from the Private Wealth Management Department--were the newly promoted Chinese managing directors.
Lloyd C. Blankfein, Chairman and Chief Executive Officer of Goldman Sachs, said on Thursday, Nov. 12: "Our new managing directors represent the best of our firm's dedication to excellence, leadership and client service, and we wish them continued success in their careers."
Managing director is a highly coveted position at Goldman Sachs. The position stands just one rung below the respected rank of partner.
By practice, Goldman names a new class of managing directors every other November and inducts them the following January.
