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<ul class="summary-list"><li>Feroz Khosla, part of Goldman Sachs' financing group, was named a Goldman partner on Thursday.</li><li>At 35 years old, Khosla is the youngest member of the firm's new class of partners for 2024.</li></ul><p>Feroz Khosla was seated at his desk at Goldman Sachs' lower Manhattan headquarters when the call came in.</p><p>On the line was John Waldron, Goldman's president and chief operating officer, who asked Khosla how he was feeling. "Something tells me I'll feel a lot better after this phone call," Khosla said. The two men exchanged a laugh, and then Waldron delivered the news.</p><p>"We'd like to welcome you into the partnership," Khosla recounted Waldron telling him. "I look forward to calling you my partner."</p><p>Khosla is one of <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partners-revealed-see-full-list-names-diversity-women-2024-11">95 Goldman executives</a> who got a call like this on Thursday, part of a biennial ritual intended to honor and uphold the firm's genesis as a partnership. At 35, Khosla is the youngest member of the <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partner-class-perks-privileges-cross-ruffing-process-2024-10">2024 partner class</a>. He's also one of the 29% of new partners who joined Goldman as a summer intern — 2009 in Khosla's case.</p><p><a target="_blank" href="https://www.businessinsider.com/goldman-sachs-is-about-to-promote-another-round-of-partners-2022-10">Goldman Sachs partners</a> comprise the firm's <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partners-share-investment-banking-oral-histories-2024-7">highest-ranking executives outside the C-Suite</a>, responsible for units representing billions of dollars in business.</p><p>Khosla works in the financing group within Goldman's global banking and capital markets division, where he leads the investment-grade-financing and corporate-derivatives business for healthcare and real estate. He works with CFO and treasury clients on their capital structure and financing needs and advises them on the implications of macro risks on specific transactions, like fluctuation in interest rates or currency valuations.</p><p>The corporate-derivatives business is housed within Goldman's overall financing unit, which encompasses both equity and debt underwriting. Increased lending needs from corporate borrowers helped lift Goldman's debt underwriting revenues by 46% in the third quarter versus the same time in 2023.</p><p>In an interview with BI, Khosla walked Business Insider through this pivotal day in his career, from who he called first to how he celebrated with his family and his boss.</p><div type="image" title="A bald man in a suit smiles" height="1917" width="3000" msid="115114994" hostid="261" sizebytes="224422"></div><h2 id="81a329b4-c785-4b14-a16c-9f45e13a515e"><strong>Champagne toasts, 'welcome to the family'</strong></h2><p>"The responsibility part absolutely gets deeper, heavier," Khosla said of the partner title. Still, he and some of his newly minted fellow partners have been making time to celebrate.</p><p>At the office on Thursday, some new partners indulged in cake with their teams, one insider said. There were also celebratory dinners across Manhattan. Khosla, one of <a target="_blank" href="https://www.businessinsider.com/top-wall-street-executives-rising-stars-investing-trading-2024">BI's 2024 Rising Stars of Wall Street</a>, attended a dinner hosted by Vivek Bantwal, Goldman's global head of financing, who heads Khosla's group, as well as other current partners.</p><p>Bantwal and the other partners invited about 15 people — new partners and their spouses — to a restaurant in downtown Manhattan, where Bantwal cracked open what Khosla called "a very special bottle of Champagne that had been given to him by another partner, and he'd been saving for an occasion like this." </p><p>At one point, someone leaned over and said to Khosla's wife: "Welcome to the family," he said. </p><p>In his interview with BI on Friday, Khosla recognized his team's contributions in helping him make partner, saying he intends to call every person in his department — from junior analysts all the way up to other partners — to thank them. "Goldman Sachs was the first family that I really had when I left India," he said, adding: "Frankly, it's the only jersey I want to wear."</p><p>He already thanked his loved ones. His parents, he said, are from India, and made sacrifices to send him to America to pursue his education. His wife, Lucy, is no stranger to canceling appointments to care for their kids, ages 2 and 4, when work has kept Khosla late.</p><p>"I immediately texted my father just to say, 'We did it,'" he recalled. "Then I called my wife and I thanked her and congratulated her," he said, adding, "This is not just one individual's day, and I think it won't be one individual's celebration."</p><p>Khosla said he and his wife are hoping to use this new achievement to advance opportunities for his children. Education, he said, was vital to his upbringing: His parents laminated multiplication tables for their kids to use as placemats while eating. Being quizzed by his mom as she drove him to school, he said, kept him sharp.</p><p>Khosla said he recognizes there's a lot of work ahead to prove he's deserving of the title. One way he pumps himself up, he said, is with playlists of movie trailers he listens to while running.</p><p>In contemplating which trailer might best depict the current point in his career, he said: "Mission Impossible."</p><p><em>Are you a Goldman Sachs insider? Get in touch with this reporter. Reed Alexander can be reached via email at </em><a target="_blank" href="mailto:ralexander@businessinsider.com"><em>ralexander@businessinsider.com</em></a><em>, or SMS/the encrypted app Signal at (561) 247-5758.</em></p>

The youngest member of Goldman's 2024 partner class takes us inside his big day, from his call with President John Waldron to celebrating with his boss

<p class="source"><span>Paul Morigi/Getty Images</span></p><p class="caption">Goldman Sachs CEO David Solomon.</p><ul class="summary-list"><li>Goldman Sachs said goodbye to dozens of partners last year when they either left the firm, renounced their membership in one of Wall Street's most desirable clubs, or made it clear they'd leave by the end of January, and the exits hit hardest in the firm's securities division.</li><li>Roughly half of those counted by Business Insider - 19 out of 36 - departed the firm's troubled securities division.</li><li>Business Insider searched through articles, both its own and those of other news organizations, talked to current and former employees, and sounded out recruiters to aggregate the departed partners. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Click here for more BI Prime stories</a>.</li></ul><p>Goldman Sachs said goodbye to dozens of partners last year when they either left the firm or renounced their membership in one of Wall Street's most desirable clubs, and the exits hit hardest in the firm's securities division.</p><p>More than half of those counted by Business Insider - 19 out of 36 - departed the firm's securities division, renounced their partner status or said they will leave soon. The count doesn't include a quintet of senior partners from the securities division who left in 2018: <a href="https://www.businessinsider.com/goldman-sachs-securities-heads-exit-hands-opportunity-to-next-group-of-execs-2018-5">Pablo Salame</a>, Isabelle Ealet, <a href="https://www.businessinsider.com/goldman-equities-co-head-paul-russo-leaving-the-bank-2018-9">Paul Russo</a>, John Willian and <a href="https://www.businessinsider.com/r-goldman-trading-executive-bash-polley-to-depart-at-year-end-memo-2018-9">Stacy Bash-Polley</a>. </p><p>Business Insider searched through articles, both its own and those of other news organizations, talked to current and former employees, and sounded out recruiters to aggregate the partners who left. </p><p>Since <a href="https://www.businessinsider.com/goldman-sachs-david-solomon-ceo-2018-7">becoming CEO</a> in October 2018, David Solomon has turned a sharp eye to Goldman's trading division, where former CEO Lloyd Blankfein made his career and where many of his top lieutenants kept their desks. The securities division has struggled with a move toward electronic trading and calm financial markets that have kept many clients on the sidelines, and yet many of the exits were well-known names on Wall Street. </p><p>Salame, David Casner, and Justin Gmelich, to name just three, quickly found jobs elsewhere. Salame, once head of the division, joined Ken Griffin's hedge fund, Citadel, as head of credit, while Casner, a senior exec in equity derivatives, joined Citadel last year as well. Gmelich, one of two leaders of Goldman's fixed-income franchise, joined hedge fund King Street Capital as global head of markets and also joined MarketAxess' board. </p><p>Some partners didn't leave the firm, but gave up their standing as partners. John Madsen, the former chief technology officer, <a href="https://www.businessinsider.com/goldman-sachs-departures-robin-vince-latest-to-leave-2019-9">chose</a> to "retire from the partnership," according to a September memo that hewed closely to a phrase that's been used in other cases as well. Dean Backer, head of Goldman's prime brokerage unit, also retired from the partnership, but stayed on as chairman of the business. </p><p>Others are still at the firm, but have made it known that they intend to leave. Josh Struzziery, for example, will leave by the end of this month, according to a person with knowledge of his exit. One current partner, research chief Steve Strongin, is widely thought to be giving up his management post and partnership status this year to focus on writing and research, though he remains a partner today, according to a person familiar with his thinking. </p><p>Each individual decision was likely a mixture of realizing that there was no place for them in Solomon's Goldman Sachs and finding exciting opportunities elsewhere. </p><p>When people leave, there's a number of ways to go. While many like to stay private, others host cocktail hours or private dinners with close colleagues, and sometimes, clients. Marty Chavez, for example, is hosting a retirement dinner on Wednesday night at the Izakaya-style Japanese restaurant Zuma. </p><p>Colleagues arranged marching bands to fete Justin Gmelich and Brian Levine when they left, and Levine gave a short speech over the trading floor's loudspeaker known as the hoot, according to a person who witnessed it. Others are clapped off the floor. And still others star in movies: Paul Russo was the subject of a short video featuring old photos that aired in the auditorium. </p><p>In all, roughly 50 partners have already left since the last partner class was <a href="https://www.goldmansachs.com/media-relations/press-releases/archived/2018/gs-partner-class-2018.html">announced</a> in November 2018, or said they will leave shortly, according to a person who has seen the numbers. Executives expect another 30 or so to leave between now and when the new partner class is announced later this year, the person said.</p><p>Executives close to Solomon think the exits are tracking past cycles. By other counts, the firmwide departures have been greater than in years past. The Wall Street Journal <a href="https://www.wsj.com/articles/goldman-sachss-partnership-is-shrinking-11567635448">reported</a> in September, without saying where it got the information, that as much as 15% of the firm's roughly 500 partners would leave. The newspaper said at the time that as many as 12 partners were negotiating their exit before the end of the year.</p><p>Goldman's partnership stood at roughly 500 in late 2018 when a new class of 69 partners - the smallest in Goldman's two decades as a public company - received the promotion.</p><p>The CEO is looking to shrink the partnership and make it more exclusive, and he's made it clear internally that he wants to give more of the prestigious titles to revenue producers than those who work in human resources, finance, or operations. He's also said that some of the exits have come as a byproduct of choosing other executives for more senior roles. Jeff Nedelman, for example, is widely thought to have left after Solomon named Marc Nachmann as co-head of the securities division.</p><p>"As a management team, John, Stephen and I are very focused on creating opportunities for the next generation of leaders at Goldman Sachs," Solomon said in October on the firm's earnings call. "As we set forth an ambitious long-term strategic plan for the firm, it is a natural point in time for this transition to occur."</p><p>The CEO has encouraged some of the exits by offering some partners <a href="https://www.businessinsider.com/goldman-ceo-solomon-offering-buyouts-to-partners-shrink-senior-ranks-2019-9">generous payouts</a>, people with knowledge of the discussions said in September. In some cases, that might look like a prorated bonus adjusted for their performance, while in others, it may be a larger sum, one of the people said. </p><p>The preponderance of exits from the securities division has led some to call it a purge, or a sign that Solomon is focused on thinning out enemies or Blankfein lieutenants. It's also true that the division is undergoing large scale changes the likes of which aren't being seen in most of Goldman's other units. </p><p>Solomon has named investment bankers to securities division roles: Two out of three of the securities division co-heads, Jim Esposito and Marc Nachmann, spent the majority of their careers in the division Solomon ran before getting promoted. Vivek Bantwal, last seen running the firm's credit and structured finance businesses, has been named as chief operating officer of the securities division. Bantwal worked for Nachmann in the investment bank, according to a person with knowledge of their careers. </p><p>On Tuesday, Goldman Sachs <a href="https://www.businessinsider.com/goldman-sachs-renames-business-units-ahead-of-quarterly-results-2020-1">said</a> it would report financial results across four new segments, another part of Solomon's plan to reposition Goldman for the future and help elevate the firm's stock price.</p><p>Here's the list of those partners who left, or renounced their membership.</p><p><em>Have we forgotten someone? Please reach out to the reporter at dcampbell@businessinsider.com, or through text or encrypted messaging app Signal at 917-673-9252. </em></p><h2>Securities</h2><p>Marty Chavez</p><p>Brian Levine</p><p>Jeff Nedelman</p><p>Justin Gmelich</p><p>Dan Oneglia</p><p>Andrew Rennie</p><p>Arun Dhar</p><p>Jeff Verschleiser</p><p>Josh Struzziery</p><p>David Casner</p><p>Eiji Ueda</p><p>Gavin Leo-Rynie</p><p>Konstantin Shakhnovich</p><p>Dean Backer (retired from the partnership)</p><p>Scott Rofey</p><p>Sara Devereux</p><p>Jack McCabe</p><p>Robert Berry</p><p>Gerard Beatty (retired from the partnership)</p><h2>Investment Banking</h2><p>Joe Todd</p><p>Steven Barg</p><p>Hansong Zhu</p><p>Rob Sweeney</p><p>Dan Swift</p><h2>Federation</h2><p>Dane Holmes</p><p>Robin Vince</p><p>Greg Palm</p><p>Bruce Larson</p><p>Ken Hitchener</p><h2>Technology</h2><p>Elisha Wiesel</p><p>Jeff Wecker</p><p>John Madsen (retired from the partnership)</p><h2>Merchant banking</h2><p>Beth Cogan</p><p>Oliver Thym</p><h2>Research</h2><p>Richard Manley</p><h2><strong>Consumer and Investment Management</strong></h2><p>Kane Brenan</p><p class="tagline"><a href="https://www.businessinsider.com/intelligence/banking?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=wallstreet&amp;itm_campaign=banking-2"></a></p>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/quentin-tarantino-movies-steals-cinema-homage-reference-2019-7">How Golden Globes winner Quentin Tarantino steals from other movies</a></h3>

Goldman Sachs lost at least 36 partners last year. Here's a list of all the names we know - and it shows a securities division exodus.

<p>Hello readers!</p><p>Happy Saturday, and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. Here's a rundown of the must-know stories from the past week:</p><ul><li>How a decade of repairing Morgan Stanley made <a href="https://www.businessinsider.com/morgan-stanleys-james-gorman-jon-pruzan-interview-wealth-acquisition-pay-2021-1">James Gorman the highest-paid bank CEO</a> on Wall Street</li><li>Lee Ainslie tells investors Maverick Capital is <a href="https://www.businessinsider.com/lee-ainslie-maverick-gamestop-forced-selling-opportunities-2021-2">"poised to take advantage"</a> of the post-GameStop-frenzy </li><li>How <keyword id="1268253" type="PERSON" weightage="60" keywordseo="Robinhood">Robinhood</keyword> conditioned users to <a href="https://www.businessinsider.com/how-robinhood-conditioned-generation-trade-obsessive-investing-reddit-gamestop-wallstreetbets-2021-2">obsessively play</a> the market </li><li>The inside track on the <a href="https://www.businessinsider.com/panel-experts-debate-ipos-direct-listings-spac-outlook-2021-2">next big innovations</a> in IPOs and direct listings</li><li>Read our roundup of<a href="https://www.businessinsider.com/wall-street-hiring-announcements-banking-promotions-goldman-deutsche-bank-2021-2"> Wall Street power moves</a> </li></ul><p>If this email was forwarded to you, <a href="https://newsletter.businessinsider.com/click/22653302.34602/aHR0cDovL25ld3NsZXR0ZXIuYnVzaW5lc3NpbnNpZGVyLmNvbS9qb2luLzRucC9pbnNpZGVyLWZpbmFuY2U_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5cf970723f92a452082ea752B3f5606f6">sign up here </a>to get your daily dose of the stories dominating banking, business, and big deals.</p><h3><a href="http://businessinsider.com/how-robinhood-conditioned-generation-trade-obsessive-investing-reddit-gamestop-wallstreetbets-2021-2">Generation Robinhood: How the trading app conditioned inexperienced users to obsessively play the market</a></h3><p>The app aims to make trading easy and fun for a simple reason: The more users trade, the more money Robinhood makes. The startup's business model, in fact, is based in large part on what is known as <a href="https://www.businessinsider.com/robinhood-payment-for-order-flow-gamestop-regulation-revenue-2021-2">payment for order flow</a> (PFOF) - taking the buy and sell orders that users place and selling them directly to <a href="https://www.businessinsider.com/ken-griffin-citadel-citadel-securities-gamestop-reddit-trading-wallstreetbets-2021-2">large trading firms</a>. </p><p><strong>More stories on the retail-trading frenzy:</strong></p><ul><li><a href="https://www.businessinsider.com/reddit-spacs-wallstreetbets-yolo-gamestop-cciv-ghiv-retail-trading-investing-2021-2">SPAC-focused Reddit group</a> is trying to prevent pump and dumps as retail traders throw markets into turmoil</li><li>Citadel and Citadel Securities' profiles have risen with GameStop frenzy. Now the firms have <a href="https://www.businessinsider.com/ken-griffin-citadel-citadel-securities-gamestop-reddit-trading-wallstreetbets-2021-2">caught the attention of lawmakers</a>.</li></ul><h3><a href="https://www.businessinsider.com/morgan-stanleys-james-gorman-jon-pruzan-interview-wealth-acquisition-pay-2021-1">How a decade of repairing Morgan Stanley after the financial crisis made James Gorman the highest-paid CEO on Wall Street</a></h3><div type="image" title="morgan stanlety big year james gorman 2x1" height="1200" width="2400" msid="80724712" hostid="261"></div><p>Morgan Stanley was nearly toppled by subprime mortgage exposure during the financial crisis.  In 2020, Morgan Stanley inked big deals for E-Trade and Eaton Vance and raked in record revenue. CEO James Gorman is now the highest paid bank exec on Wall Street, and the firm recently named a bumper <a href="https://www.businessinsider.com/full-list-of-names-morgan-stanley-2021-managing-director-promotions-2021-1">class of new MDs</a>.</p><p>Here's how the bank <a href="https://www.businessinsider.com/morgan-stanleys-james-gorman-jon-pruzan-interview-wealth-acquisition-pay-2021-1">remade itself over the past 10 years</a>, and why CFO Jon Pruzan told us that it's ready for a big growth push.</p><p><strong>More stories on Morgan Stanley: </strong></p><ul><li>Morgan Stanley just tapped a 34-year veteran of the firm as its <a href="https://www.businessinsider.com/morgan-stanley-head-cloud-architecture-technology-bobby-gilja-2021-2">first-ever head of cloud and architecture</a></li><li>Morgan Stanley just named a <a href="https://www.businessinsider.com/morgan-stanley-names-new-operating-chief-for-tech-operations-division-2021-2">new operating chief</a> for its <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech">tech</keyword> and operations division</li></ul><h3><a href="https://www.businessinsider.com/sequoia-heritage-fund-investor-melvin-capital-gabe-plotkin-gme-robinhood-2021-2">GameStop-ravaged Melvin Capital has an unlikely investor - the partners at the Silicon Valley VC Sequoia Capital that backs retail-trading app Robinhood</a></h3><div type="image" title="GettyImages 1230440907" height="2250" width="4500" msid="80724714" hostid="261"></div><p>As an army of retail traders took on some of Wall Street's biggest names, one of Silicon Valley's most storied investment firms found itself with money on both sides of the trade.</p><p>Sequoia Heritage, an under-the-radar endowment-style fund at the venture-capital firm, was an early investor in Melvin Capital. <a href="https://www.businessinsider.com/sequoia-heritage-fund-investor-melvin-capital-gabe-plotkin-gme-robinhood-2021-2">You can get the full rundown here. </a></p><h3><a href="https://www.businessinsider.com/goldman-sachs-susie-scher-global-financing-akila-raman-coo-ib-2021-2">Goldman Sachs names Susie Scher as chairman of its global financing group, and lays out other changes in investment-banking leadership</a></h3><div type="image" title="Susie and Vivek side by side Goldman header image" height="960" width="1920" msid="80724716" hostid="261"></div><p><keyword id="6361649" type="UNKNOWN" weightage="60" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> on Wednesday <a href="https://www.businessinsider.com/goldman-sachs-susie-scher-global-financing-akila-raman-coo-ib-2021-2">told staff about</a> leadership changes within its investment bank. Susie Scher and Vivek Bantwal will become chairman and cohead of global financing, respectively. Akila Raman, formerly the COO of global financing, will become COO of the investment bank. </p><p><strong>More Goldman news this week:</strong></p><ul><li>Goldman Sachs partner Adam Dell has <a href="https://www.businessinsider.com/goldman-sachs-adam-dell-stepped-down-head-digital-product-marcus-2021-2">stepped down from his role </a>as one of the leaders on Marcus </li></ul><h3><a href="https://www.businessinsider.com/visa-launches-pilot-program-crypto-trading-api-fintechs-first-boulevard-2021-2">Visa just launched a pilot program to help fintechs offer crypto trading, and its first partner is a digital bank focused on the Black community</a></h3><div type="image" title="Donald Hawkins CEO First Boulevard " height="2009" width="4018" msid="80724717" hostid="261"></div><p>The payments giant announced Visa Crypto APIs, a set of application programming interfaces that allow Visa's fintech customers to offer the ability to buy, custody, and trade digital assets held by Anchorage, a federally-chartered digital asset bank.</p><p>First Boulevard, a digital-only bank with a goal of increasing financial empowerment in the Black community, is the first customer to use Visa Crypto APIs.</p><p><a href="https://www.businessinsider.com/visa-launches-pilot-program-crypto-trading-api-fintechs-first-boulevard-2021-2">Visa expects to make a wider launch of the APIs later this year. </a></p><h3><a href="https://www.businessinsider.com/kirk-mckeown-departing-steve-cohen-point72-hedge-fund-data-2021-2">Kirk McKeown is leaving Steve Cohen's Point72, the second senior data exec to depart the hedge fund recently</a></h3><div type="image" title="steve cohen" height="1712" width="3424" msid="80724719" hostid="261"></div><p>Another senior Point72 data executive is departing the hedge fund. <a href="https://www.businessinsider.com/kirk-mckeown-departing-steve-cohen-point72-hedge-fund-data-2021-2">Kirk McKeown</a>, who led proprietary research, is leaving to start a business, sources told Insider. In December, Matthew Granade, who oversaw the fund's data efforts, left amid a firm reorganization.</p><p><strong>Other hedge fund news: </strong></p><ul><li>Former Millennium portfolio manager Seth Turkeltaub is <a href="https://www.businessinsider.com/former-millennium-pm-seth-turkeltaub-is-launching-his-own-fund-2021-1">launching</a> his own fund</li><li>$6 billion Schonfeld details a <a href="https://www.businessinsider.com/schonfeld-investor-letter-growth-since-2016-first-ceo-training-program-2021-2">training push called 'Sapphire</a>' to develop new portfolio managers </li></ul><h2>Other stories readers loved this week</h2><ul><li>Databricks exec explains why <a href="https://www.businessinsider.com/why-open-banking-will-disrupt-finance-how-firms-can-prepare-2021-2">open banking will disrupt finance</a> the same way open source upended software</li><li>Lazard CEO Ken Jacobs just dropped some clues about how his firm plans to grow its $259 billion asset manager, which includes <a href="https://www.businessinsider.com/lazard-execs-considering-talent-smaller-asset-managers-deals-consolidation-mergers-2021-2">scooping up talent from smaller firms</a> and promoting 7 MDs</li><li>Meet <a href="https://www.businessinsider.com/big-law-recruiting-firms-lawyers-recruiters-career-hires-legal-2021-2">15 top legal recruiting firms</a> to know if you're looking to make a move.</li><li>A health insurer backed by Chamath Palihapitiya is in the hot seat after a scathing short-seller report. <a href="https://www.businessinsider.com/clover-health-hindenburg-report-dispute-analysis-2021-2">Here's how Clover Health responded</a> to 4 of the biggest claims.</li><li>Narmi, a fintech that helps banks up their digital game, is <a href="https://www.businessinsider.com/narmi-fintech-funding-round-plaid-brex-banking-digital-transformation-nea-2021-2">looking to double headcount this year</a> </li><li>A fintech aimed at <a href="https://www.businessinsider.com/rightfoot-seed-round-bain-capital-5-million-fintech-student-debt-2021-2">streamlining how student loans are paid off</a> just raised a $5 million seed round led by Bain Capital Ventures</li></ul>

How Robinhood became an obsession - Wall Street power moves - Gorman's big raise

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZYYYMBR3&amp;SMLS=1&amp;RW=1559&amp;RH=893#/SearchResult&amp;VBID=2C0BXZYYYMBR3&amp;SMLS=1&amp;RW=1559&amp;RH=893&amp;POPUPPN=60&amp;POPUPIID=2C040802XT9VR">Brendan McDermid/Reuters</a></span></p></div><p></p></div></div>Goldman Sachs just announced a big shake-up.</p><p><span><a href="http://www.businessinsider.com/jim-esposito-promotion-2016-2">Jim Esposito, cohead of the global financing group</a>, will join the securities division as chief strategy officer, the firm announced in an internal memo obtained by Business Insider.</span></p><p><span><span><span>Marc Nachmann, who had been cohead of the financing group, will become sole head. The financing group houses the bank's equity and debt capital markets activities.</span></span></span></p><p><span>"<span>Jim has a deep understanding of our corporate clients and a successful track record in identifying effective capital market solutions to address client needs,</span>" reads the memo, which was signed by securities division coheads Isabelle Ealet, Pablo Salame, and Ashok Varadhan.</span></p><p><span>Esposito has been based in London, and ran the financing group in Europe, the Middle East, and Africa before his promotion to the <a href="http://www.reuters.com/article/goldmn-sachs-scherr-idUSL1N0OJ1D120140602">global cohead role in 2014</a>.</span></p><p><span>Denis Coleman, who had been head of credit finance in Europe, the Middle East, and Africa, will now become head of the financing group in the region. </span><span>Michael Marsh will become head of leveraged finance in the region, according to separate memos seen by Business Insider and confirmed by a spokesman.</span></p><p><span>Separately, the firm announced in internal memos that Craig Packer, cohead of Leveraged Finance in the Americas, was retiring from the firm and that Christina Minnis and Vivek Bantwal will become coheads of the newly created Americas Credit Finance Group.</span></p><p><strong>To get the must-read guide to the key issues at every major Wall Street bank, <a href="http://www.businessinsider.com/newsletter/prime-finance?IR=T&amp;utm_source=businessinsider&amp;utm_medium=finance_insider&amp;utm_term=finance_insider_leadgen_text_link&amp;utm_content=leadgen_text_link&amp;utm_campaign=finance_insider_leadgen_link" target="_blank">click here</a>.</strong></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/life-lessons-goldman-sachs-elevator-gselevator-2015-7">Life lessons from the Goldman Sachs Elevator parody twitter account</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Rjb3Npdjo8q2v5ZB5UOtC4ddaCiODdhz" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "Bantwal" and got 4 results

The youngest member of Goldman's 2024 partner class takes us inside his big day, from his call with President John Waldron to celebrating with his boss

Reed Alexander

Goldman Sachs lost at least 36 partners last year. Here's a list of all the names we know - and it shows a securities division exodus.

Dakin Campbell

How Robinhood became an obsession - Wall Street power moves - Gorman's big raise

Insider Inc.

Goldman Sachs just announced a big shake-up

Portia Crowe

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