Trading Places

Inside views on the jobs market

from DealZone:

Goldman $ach$ names partner$

It's not all bad news on Wall Street, at least not for those at the top of the heap.

Goldman Sachs, who pays out the most in bonuses each year, on Wednesday named 94 new members to its elite club of partner managing directors. This group of 443 men and women typically share a fifth of the firm's bonus pool, which is nothing to sneeze at, even if compensation is down this year.

Below is the memo and the list:

---

October 29, 2008

Goldman Sachs Announces the Partner Class of 2008
We are pleased to announce that the following individuals have been invited to become partners as of November 29, 2008, the start of our next fiscal year. These appointments recognize the contributions and potential of some of the firm's most valued senior professionals.

Paul R. Aaron

Sean J. Gallagher

David M. Marcinek

Heather K. Shemilt

Sanggyun Ahn

Gonzalo R. Garcia

Blake W. Mather

Magid N. Shenouda

Philip S. Armstrong

Paul E. Germain

John J. McCabe

Suhail A. Sikhtian

Charles Baillie

Paul Graves

John J. McGuire Jr.

Gavin Simms

Philip R. Berlinski

E. Glenn Hadden

Milton R. Millman III

Marshall Smith

Robert A. Berry

Jonathan J. Hall

Christopher Milner

John D. Storey

Oliver R. Bolitho

Jan Hatzius

Christina P. Minnis

Patrick M. Street

Patrick T. Boyle

Martin Hintze

Takashi Murata

Ram K. Sundaram

Stephen Branton-Speak

Todd Hohman

Todd G. Owens

Robert J. Sweeney

Anne F. Brennan

James P. Houghton

Craig W. Packer

Michael J. Swenson

Samuel S. Britton

Paul J. Huchro

Gilberto Pozzi

Jeffrey M. Tomasi

Jason G. Cahilly

Hidehiro Imatsu

Lora J. Price

David G. Torrible

Martin Cher

Alan S. Kava

Lorin P. Radtke

Frederick Towfigh

Denis P. Coleman III

Dimitrios Kavvathas

Richard M. Ramsden

Greg A. Tusar

Kevin P. Connors

Larry M. Kellerman

Michael J. Richman

Andrea A. Vittorelli

James V. Covello

Hideki Kinuhata

Michael Rimland

Paul Walker

Jeffrey R. Currie

Michael E. Koester

Luigi G. Rizzo

Alasdair J. Warren

Albert F. Dombrowski

J. Christopher

A. Kojima

Scott A. Romanoff

Dominic A. Wilson

Thomas M. Dowling

Michiel P. Lap

Julian Salisbury

Steve Windsor

L. Brooks Entwistle

Brian J. Lee

Paul D. Scialla

Martin Wiwen-Nilsson

Stephan J. Feldgoise

David A. Lehman

Peter E. Scialla

Denise A. Wyllie

Benjamin W. Ferguson

Deborah R. Leone

Peter A. Seccia

Han Song Zhu*

Wolfgang Fink

John S. Lindfors

Rebecca M. Shaghalian

Timur F. Galen

H.C. Liu

Devesh P. Shah
* Employee of Goldman Sachs Gao Hua Securities Company Limited

We congratulate all of those selected and wish them continued success in their careers. These decisions are extremely difficult and we would like to acknowledge the contributions of those who were not selected this year. We are confident that many of them will be selected in the future.
Lloyd C. Blankfein Jon Winkelried Gary D. Cohn

Is Wall Street poised for a makeover?

Photo
-

There’s no question Wall Street is undergoing a transformation of sorts with the recent rash of job losses and do-or-die consolidations. But once the dust has settled – what then?

It just may be the start of Wall Street’s warm and fuzzy rebirth, Forbes reports.

Job Bank – Oct. 28

Photo
-

The following financial services industry appointments were announced on October 28, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.

Lazard
Lazard Ltd said Alexis de Rosnay will join the firm as a vice chairman of Lazard International and as a senior member of its global financial advisory team, starting on Nov. 12. De Rosnay, based in London, was previously at Lehman Brothers, where he was co-head of investment banking for Europe and the Middle East as well as global co-head of health-care investment banking.

The bright side of financial turmoil

Photo
-

Who says it’s all gloom and doom on Wall Street? Sure, job cuts are fast and furious these days, but the deepening financial crisis is bringing about some interesting unintended consquences.  Time magazine reports that although the government bailout caps the salaries of top executives, it may actually prop up the bonuses of rank and file bankers.

True, those bonuses are substantially lower than they would’ve been had the markets not imploded in recent weeks — but not nearly as low as one might expect.

Job Bank – Oct.27

Photo
-


The following financial services industry appointments were announced on Oct. 27, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please send an e-mail to: moves@thomsonreuters.com.

Deloitte

Deloitte Financial Advisory Services (Deloitte FAS) said it elected David Williams as chief executive officer and Kerry Francis as chairman for the U.S. portion of the unit. Williams, 46, replaces Frank Piantidosi who has been CEO since 2003. Piantidosi is moving into the role of chief executive of Deloitte North America Financial Advisory. Francis, 47, will continue to hold her standing title as leader of the group’s national Corporate Investigations practice.

Bracing for the pink slip epidemic

Photo
-

After a seemingly endless run of job cuts this week, Chrysler’s plan to slash a whopping 25 percent of its white-collar jobs handily goes to show how quickly problems in the finance sector leak into the rest of the economy.

Taken alongside cuts at Yahoo, Xerox and others, could this be the beginning of the so-called “pink slip epidemic”?

Job Bank – Oct. 24

Photo
-

The following financial services industry appointments were announced on Oct. 24, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.

CITIGROUP INC

Citigroup Inc has hired two former senior Lehman Brothers fixed income executives, according to internal memos obtained by Reuters. Andrew Morton, previously global head of fixed income at Lehman, has joined Citi as managing director and head of G10 rates, risk treasury, and fixed income finance. John Gallo, formerly global head of liquid market sales at Lehman, has joined Citi as managing director and head of North American sales across multiple asset classes.

When bad things happen to bankers

Photo
-

Add 3,300 people to the long list of casualties of the credit crunch. Sources say Goldman Sachs plans to slash more than 10 percent of its workforce, a sobering sign of the times for a Wall Street stalwart that has largely dodged the massive credit losses that have taken out its peers. Once heralded as “tarnished, but not broken”, the latest round of job cuts will bring the bank’s headcount to the lowest level since 2006.

“These are not the last job cuts you will see,” warned Michael Williams, dean of Pepperdine University’s Graziado School of Business.

Job Bank – Oct. 23

Photo
-

The following financial services industry appointments were announced on October 23, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.

ARCH CAPITAL GROUP LTD
The reinsurance company named John Hele chief financial officer, effective April 1. Hele, who is currently the CFO of ING Group, will be based in Arch Capital’s Bermuda headquarters and will replace John Vollaro. Vollaro will continue with the company as senior advisor.

Retirement plans, interrupted

-

Office workers rush across a city street during peak hour in central Sydney May 20, 2008.REUTERS/Tim Wimborne

Those lucky enough to hold on to their jobs during the market meltdown are facing another conundrum as the clock ticks towards retirement: should they stay or should they go? Canada’s Globe and Mail reports that an increasing number of soon-to-be retirees are opting to stay in the workforce, at least until their retirement savings recover.

“Retirement at 65 years is now headed for retirement at 70 years,” says Mike Harvey, talent manager for Prime 50, which focuses on employment for the 50-plus set.

  •