Goldman chops back on partners

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The Independent Online

The banking industry's jobs squeeze has reached the very top of Goldman Sachs after the investment bank shed more than 30 of its elite partners in the past nine months, according to United States filings yesterday.

Goldman has 407 partners, down by 31 since February, as the cull of top bosses echoes the 3100 staff lost across the bank since the end of 2010.

Partners participate in a special compensation scheme and own more than 11 per cent of the bank's shares between them, valued at more than $6bn (£3.7bn).