Goldman hires 272 new MDs

GOLDMAN Sachs has invited 272 executives to join the ranks of its managing directors, in yet another sign of its rude health following the global downturn.

The promotions will make the executives eligible for more of Goldman’s lucrative bonus pool next year.

The group of 272 is smaller than the 299 promoted during 2007, a bumper year for the bank.

Goldman Sachs declined to comment and would not disclose the number of managing directors promoted in 2008.

It has faced criticism from some quarters for setting aside nearly $17bn (£10.2bn) for year-end bonuses after receiving a $10bn US taxpayer bailout.

The bank has since paid back the government money.