Goldman Sachs is facing leadership changes as two high-profile partners are reportedly exiting the bank. Fred Baba, one of the bank’s youngest partners, and Dina Powell McCormick, a former government official who ran the bank’s sovereign business, are both leaving the firm. Baba, who made the annual list of rising stars on Wall Street in 2020, wrote a viral internal memo about being Black in the wake of George Floyd’s murder. He is reportedly fielding offers from rival non-bank trading firms. Powell McCormick is joining BDT & MSD Partners, where she’ll serve as vice chairman and president of global client services. As Goldman Sachs looks to right the ship amid a dealmaking drought, the bank is also expected to have another round of layoffs soon.
About Goldman Sachs:
Goldman Sachs is a multifaceted financial organization that provides global investment banking, securities, and investmentmanagement services to a substantial and diversified client base that includes corporations, financial institutions,governments, and high-net-worth individuals.
About Fred Baba:
Fred Baba is a former partner at Goldman Sachs. He gained a public following after writing an internal memo that went viral about his experience being Black in the wake of the murder of George Floyd. He made the annual list of rising stars on Wall Street in 2020.
