GOLDMAN SACHS PROMOTES OVER 500 TO MANAGING DIRECTOR – According to a memo from Goldman Sachs (GS), the bank this week promoted around 500 of their internal staff to managing directors, the second highest rank behind partnerships within the business. GS made significant promotions in its securities division with 130 MD’s named, also making a further 101 promotions in their investment banking unit. The new managing directors will officially be promoted on the 1st January, with the bank earlier this year setting aside an extra 5% on compensation compared with the same period of 2016. #SpartanInternational