- Goldman Sachs’ technology, media, and telecommunications (TMT) investment-banking group saw seven of its members elevated to partner status on Thursday.
- Overall, Goldman announced 60 new partners, including 19 from investment banking.
- Meet the seven TMT investment bankers who were just promoted that have been involved in high-profile tech IPOs and acquisitions.
- Visit Business Insider’s homepage for more stories.
Goldman Sachs is putting a lot of stock in its dealmaking efforts in the tech industry.
The elite Wall Street bank announced its 2020 partner class on Thursday — and seven of the 19 investment bankers elevated to partner status came from the bank’s technology, media, and telecommunications (TMT) group.
On the whole, Goldman elevated 60 people to partner status, which brings the total number of partners at the elite Wall Street firm to fewer than 440, a reduction in the historical partner class size, which reflects CEO David Solomon’s efforts to tighten the pool on the partner class and make it more exclusive.
Read more: Goldman Sachs just dropped the names of its 2020 partner class, and it’s a big day for investment bankers in TMT
Nick Pomponi, a co-head of global software investment banking, told Business Insider that the number of TMT partners elevated on Thursday demonstrates the value that the firm places on its tech practice.
“I think it just really demonstrates the investment that Goldman is putting into our technology practices, and our team broadly,” Pomponi said, adding that it’s also a nod toward “how busy we all expect to be over the years to come.”
Goldman Sachs’ entire investment-banking business ranks number one in mergers and acquisitions (307 deals) and bookrunning for equity capital markets (501 transactions), according to Dealogic.
On Friday, DoorDash released its filing to go public with Goldman Sachs playing a leading role in advising on the IPO. Dating app Bumble is reportedly considering an IPO in 2021, and plans to have Goldman Sachs also lead that, according to Bloomberg.
For reference, once you make partner at Goldman, you earn a base salary of at least $950,000 plus have access to a bonus pool that only partners can pull from.
We rounded up the seven TMT investment-banking partners that Goldman elevated on Thursday. Here’s a look at their backgrounds, their education, and some of the top-tier clients they advise who have helped them reach this zenith in their careers.