In a sign of things to come – and where they might come from – Goldman Sachs’ 2021 managing director list featured the American bank’s tech office in India.
Widely regarded as the «Silicon Valley of India», the southern city of Banglore, officially known as Bengaluru, was the sole city featured in Goldman Sachs’ 2021 list of newly appointed managing directors.
The American bank’s strategic fintech office was home to 29 new managing directors – or 5 percent of the full list – according to an infographic that featured the city for the first time.
With over 6,000 employees, many of whom are in tech-related roles, Goldman’s Bengaluru office is the third-largest worldwide by headcount after New York and London.
Largest Class Ever
Overall, the 643 new managing directors form the largest-ever biannual class compared to 465 in 2019 and 509 in 2017.
12 percent of the promotions (80) were from offices in Asia Pacific (excluding Bengaluru) while 28 percent of promotions (182) globally were handed to ethnically Asian individuals.
One notable trend is the uptick in promotions belonging to those that have previously worked at more than one division at the bank – 34 percent in 2021 compared to 19 percent in 2019.
«Our 2021 class is the largest and most diverse class in our history, highlighting the firm’s ongoing focus on advancing our strategic imperatives – strengthening our core franchise and further enabling our growth opportunities – as well as investing in our global footprint,» according to the release signed off by the bank’s senior managers.
