Goldman Promotes 465 Handling Directors as It Looks to Restore Its Radiance

Goldman Promotes 465 Handling Directors as It Looks to Restore Its Radiance

Goldman Sachs Group Inc. promoted 465 workers to the function of managing director, a smaller class than previous ones as the bank wants to cut expenses and restore the appeal of its upper ranks.

Managing directors are the last function before a slot in Goldman’s partnership, which David Solomon, in the president function for a year, has been working to diminish and re-energize. Two years ago the bank named 509 managing directors. (New classes of managing directors and partners are selected in alternating years.)

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