Star Londoners make partner in Goldman promotion round

Tim Wallace
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SEVENTY Goldman staff were promoted to partner yesterday, and will take on the prestigious title – and a share of the bank’s profits – in the new year.

The round was smaller than the 110 seen in the last round in 2010 as the bank downsizes. Twenty of the new partners are from Europe, Middle East and Africa (EMEA), 40 from the Americas and nine from Asia-Pacific.

Three of the most high profile London-based staff to make the jump are dealmaker Anthony Gutman, economist Huw Pill and market analyst Francesco Garzarelli.

Gutman is joint head of the bank’s UK investment banking arm, alongside Mark Sorrell who made partner in the last round two years ago.

He is well known for his involvement in high profile deals including TNK-BP’s sale to Rosneft, Betfair’s float and Pret A Manger’s acquisition.

Meanwhile the bank’s chief executive Lloyd Blankfein called for businesses and rich individuals to pay more in tax to avoid the fiscal cliff which threatens to derail the US economy’s recovery, with profound effects on the rest of the world.

“I believe that tax increases, especially for the wealthiest, are appropriate, but only if they are joined by serious cuts in discretionary spending and entitlements,” he wrote in the Wall Street Journal.