Goldman Sachs just promoted 643 people to the coveted role of managing director — its largest ever class, marking a change of approach from chief executive David Solomon who has worked to restore lustre to its upper ranks.
Managing director is a notch below the partner level at Goldman Sachs, and the US investment bank has been shrinking its class of promotions in recent years — shifting it to a two-year rather than annual cycle. Solomon has previously reduced the size of senior promotions during his tenure, with last year's...
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