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Kunal Shah, a 32-year-old India-origin managing director at Goldman Sachs, is among 78 promoted to the position of partner, becoming the youngest inducted this year into the investment giant's most-coveted club.
Shah is one of five of India-origin to have made the cut in Goldman Sachs in the 2014 class of partners.
The class has 11 women, 23 employees from investment banking, 25 from securities, 11 from investment management, four from merchant banking and three from research. They will become partners starting January. Goldman now has 467 partners, a group that represents 1.6 per cent of its 33,500-strong workforce. The position of partner brings with it some of the biggest Wall Street perks, including a lucrative paycheck with salaries of about $900,000 and a portion of the bank's bonus pool which is divided up among only the partners.
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Shah was promoted to managing director at the investment banking giant at 27. The Cambridge University maths graduate was also named on Forbes 30 under 30 finance list in 2011.
He has been a rising star at Goldman since he joined the company in London in 2004, analysing interest-rate products, before trading on the global macro desk, according to Forbes.
The other persons of India-origin named for the firm's elite group are Meena Lakdawala Flynn, Manikandan Natarajan, Umesh Subramanian and Rajesh Venkataramani.
Goldman Sachs Chairman and Chief Executive Lloyd Blankfein and President and Chief Operating Officer Gary Cohn personally called the 78 individuals on Wednesday to inform them of their elevation.
"These appointments recognise some of the firm's most-senior professionals and acknowledge their embodiment of our culture and values, and their leadership of the firm's business and people," Blankfein said. "We look forward to their continued strong performance and leadership."
Goldman Sachs selects its partners every two years through a secretive month-long process.
The record for becoming the youngest partner is held by Eric Mindich, promoted in 1994 at 27.
The partners also have access to special investment opportunities that are not available to other employees.
Goldman had ceased to be a private partnership when it went public in 1999.
But the ritual of selecting partners still remains a core and among the most coveted part of the company's identity and culture.
