Goldman Sachs names about 80 new partners – Bloomberg News

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The top post, to which the finance giant hires every two years, makes up for less than 1% of the firm’s total rank, the report added.

According to the report, the partnership rank comes with special privileges including multi-million dollar pay, the opportunity to invest in private funds without fees and a cut of profits from Goldman’s investment funds open to employees.

A spokesperson of the bank declined to comment on the report when contacted by Reuters.

Last month, Goldman said it will reorganize its business into three units and scale back ambitions for its consumer bank, after it reported a 44% slump in third-quarter profit.