What's happened
Goldman Sachs promoted 638 managing directors in 2025, with women making up 27%, a decline from previous years. The story highlights ongoing diversity issues, workplace misconduct investigations at Citi, and industry-wide challenges in gender equality and workplace culture.
What's behind the headline?
Critical Analysis
The promotion of 638 MDs at Goldman Sachs, with women comprising only 27%, underscores ongoing gender disparities despite some progress. The decline in female representation compared to previous years signals that diversity efforts remain insufficient, especially amid revelations of misconduct investigations at Citi. These investigations expose a troubling pattern of workplace culture issues, including harassment and bullying, which undermine efforts to foster inclusive environments.
The timing suggests that industry-wide scrutiny of workplace culture is intensifying, with firms like Citi under legal and reputational pressure. The focus on internal investigations and leadership accountability indicates that systemic issues are being challenged, but change remains slow. The broader implications point to a need for more transparent, enforceable diversity policies and cultural reforms across financial institutions.
This story will likely influence future hiring and promotion practices, pushing firms to prioritize workplace culture alongside financial performance. The industry faces a critical juncture where addressing misconduct and promoting genuine diversity could determine long-term sustainability and reputation. For readers, this highlights the importance of workplace integrity and the ongoing struggle for gender equality in high-stakes finance roles.
In sum, the story reveals that while progress is being made, entrenched cultural issues and systemic biases continue to hinder true diversity and inclusion in finance, with potential repercussions for industry reputation and talent retention.
What the papers say
The articles from Business Insider UK, Sky News, and the NY Post provide contrasting perspectives on the promotion cycle and diversity issues. Business Insider UK emphasizes Goldman Sachs' promotion numbers and internal advice from top executives, highlighting the importance of leadership and career development. Sky News and the NY Post focus on Citi's misconduct investigations, exposing serious workplace culture problems and the challenges of addressing harassment and gender inequality. The coverage from Business Insider UK also discusses broader industry trends, including the slow progress in gender diversity and the importance of systemic change. These sources collectively illustrate the tension between visible leadership achievements and underlying cultural issues that threaten long-term progress in the financial sector.
How we got here
Goldman Sachs' biannual MD promotion process reflects the bank's focus on revenue-generating divisions, with over 70% of new MDs from core business lines. The promotion cycle is highly competitive, involving extensive peer review. Meanwhile, industry-wide diversity challenges persist, with Citi under investigation for alleged workplace misconduct and harassment, highlighting broader issues of workplace culture and gender inequality in finance.
Go deeper
More on these topics
-
The Goldman Sachs Group, Inc., is an American multinational investment bank and financial services company headquartered in New York City.
-
David Solomon may refer to:
David Solomon (artist) (born 1976), American artist and painter
David Solomon (TV producer), American television director and producer
David Solomon (writer), Australian educator, scholar and writer
David Solomon, sperm donor.
-
Wall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east.