Goldman Sachs’s Promotion Party
The biggest share of Goldman Sachs Group Inc.’s managing director promotions this year went to its struggling sales and trading division. Of the 509 named by the Wall Street firm on Wednesday, the group nabbed 130 slots, almost 26 percent of the total and up from 24 percent two years ago. The second-biggest share, 101, went to the investment banking division. The title, which takes effect Jan. 1, 2018, usually leads to a higher base salary and bonuses that can boost total compensation into the millions of dollars.