Goldman promotes a flurry of female partners to executive roles

FILE PHOTO: FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S.

Goldman Sachs Group Inc (GS.N) on Thursday promoted four female partners to senior leadership roles at the firm, according to memos seen by Reuters.

Among them, Goldman’s head of investor relations, Heather Kennedy Miner, was given the No. 2 job in the bank’s asset management business, and Jacqueline Arthur was named deputy chief of staff for the executive office.

Goldman has set some of the most aggressive and specific goals among big U.S. banks for increasing the presence of Black, Latino and female professionals at all job levels. Thursday’s promotions reflect what Chief Executive David Solomon has said was a lack of diversity in the bank’s senior ranks.

Solomon said at a virtual event last year hosted by the Economic Club of New York that he was “not pleased” with the levels of diversity among the bank’s senior leaders.

Goldman has four women on its board of directors and will have a fifth if shareholders approve the nomination of Royal Dutch Shell plc Chief Financial Officer Jessica Uhl later this month. But Solomon has urged the bank to increase diversity in the top ranks more quickly.

A recent analysis of the companies included in the Russell 30000 Index, which includes Goldman, shows women held just 12% of the “named executive officer” positions, up from 9% in 2015.

In the memos, Miner was named chief operating officer for Goldman’s asset management division. She previously led investor relations for the bank since 2017.

The head of Goldman Sachs’s bank unit and deputy treasurer, Carey Halio, was appointed to replace Miner as head of investor relations.

Arthur will serve as deputy chief of staff and secretary to the management committee, reporting to John Rogers.

Lisa Donnelly was given an expanded role as head of core operations responsible for coordinating common practices, standards and protocols for the bank’s global divisions. She succeeds Phil Armstrong, who is retiring.

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