Hire Wire Nov 22 2011

No Big Gains for Women MDs at Goldman Sachs

By julie steinberg

Fewer women made the cut to managing director at Goldman Sachs this year, as 19% of the new group were female compared to 24% last year.

Fifty of the 261 MDs named last week are women, a review of the list by FINS shows. Last year, 77 of the 321 new MDs were women. The firm declined to comment.

The participation of women among the senior ranks at Goldman is about the same as the industry in general. Among Morgan Stanley's class of 232 managing directors last year, 38, or 16%, were women. In 2009, 13% of the 212 promoted were women.

According to data provided by Catalyst, a nonprofit organization that seeks to advance women in business, in 2008, women made up 18.8% of executive/senior-level officials and managers at companies classified under the U.S. Equal Employment Opportunity Commission's category of "Securities, Commodity Contracts & Other Financial Investments." Women composed 16.4% of executive/senior-level officials and managers at companies that fell under "Investment Banking & Securities Dealing," a subcategory of the former.

The managing director title is the firm's second-highest rank, second only to partner, a title that's bestowed every two years. The newly named MDs will take up their posts beginning January 1, 2012.

Write to Julie Steinberg at Julie.Steinberg@dowjones.com

You can see the list here.

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