Goldman Sachs Promotes 638 Employees to Managing Director Effective Jan 1, 2026

Goldman Sachs promoted 638 employees to managing director, the firm announced in an internal memo dated Nov. 6, 2025, inviting the cohort to assume the role as of January 1, 2026. Managing director remains the last formal rung before partnership at the firm, and the promotion cycle follows Goldman’s biennial cadence.

The 638 promotions mark roughly a 5 percent increase from the 608 promoted in 2023 and represent the largest managing director class since 2021. Goldman said the cohort spans 54 offices and that about 70 percent of the new managing directors came from revenue-generating divisions of the bank.

The company disclosed demographic details in the memo: 27 percent of this year’s promotions were women, down from 31 percent in 2023. The memo’s racial and ethnic breakdown lists 31 percent Asian, 3 percent Black, and 4 percent Hispanic or Latino among the promoted group.

CEO David Solomon and President John Waldron signed the companywide message titled “Managing Director Class of 2025.” In the memo they wrote, “These decisions are extremely difficult, and this year was no exception.” The pair added that the honorees “have helped strengthen our core franchises, with a focus on serving our clients with excellence and operating at scale, while leading and developing strong teams globally,” and that “We expect that our new managing directors will continue to protect the firm’s culture and our core values of partnership, client service, integrity, and excellence – reinforcing the firm’s high standards as we aspire to be best in class in everything we do.”

The promotions arrive as Goldman benefits from a pickup in investment banking and strong deal flow. The firm has been leading Wall Street’s mergers and acquisitions rankings, with fee volumes surging close to 2021 levels, and market conditions that have pushed expectations for a second straight year of rising Wall Street bonuses.

At least one promoted executive, Vincent Lin, co-head of prime insights and analytics, commented on the work behind his elevation. Lin, who was among those elevated to managing director, said, “It's been really great in my seat in terms of the work that we do looking after the positioning performance and also the investment postures for our hedge fund clients based on our data,” reflecting the operational contributions cited in the memo.

Employees reacted on social platforms after the roster circulated internally. One LinkedIn commenter, Orest Andrusyshyn, wrote, “Didn’t see that coming, promoting 638 new managing directors at once is a huge cohort. Helping teams scale leadership right now, and it’s interesting how every team hits different walls as they grow. Curious what qualities you think mattered most in these promotions.” A congratulatory post from Dr. Polina Magliozzi read, “Congrats Jeevan Yelety!!!! 💥🥹”

Internal excerpts show many individual names, including Shannon Murdock, Alexandra Murray, Ben Murray, and Saveen Nair among others, but the firm’s full roster contains 638 properly formatted names for review by employees. The Managing Director Class of 2025 will take effect January 1, 2026, across Goldman’s 54 offices.