Goldman Sachs has appointed a new batch of lucky bankers to the esteemed position of partner, putting them in line for bonuses worth many millions each year.
But in a sign of the strife in the financial sector, just 70 of the many managing directors in the business will earn the promotion this year, down from more than 100 last time around.
Among the newly promoted is London-based Anthony Gutman, who heads the UK investment banking arm alongside Mark Sorrell. Mr Gutman, who led the sale of BP-TNK to Rosneft, has also been an adviser to Formula One and Pret A Manger.
Other well-known City names include Francesco Garzarelli, co-head of Macro-Markets Research, and Huw Pill, Goldman's chief European economist.
Of the new partners, 14 per cent are women, while 59 per cent are based in North and South America, 29 per cent in Europe, the Middle East and Africa and 13 per cent in Asia. Partners receive a salary of about $900,000 (£570,000) and a cut of a special bonus pool.
"We congratulate all those selected on this important achievement and look forward to their leadership in the years ahead," said Goldman's chief executive, Lloyd Blankfein.Reuse content