Five years ago, David Solomon, CEO of Goldman Sachs, took control and promised to prioritize promoting women to senior positions within the firm. However, recent data shows a significant exodus of female partners, with around two-thirds leaving their positions since 2018.
Notably, no woman currently leads a major division or is considered a credible candidate for future leadership. Efforts to elevate women, such as Stephanie Cohen's appointment to co-head consumer and wealth management, have faced challenges, particularly as the consumer business encountered significant losses and subsequent restructuring. "Advancing women into our most senior ranks is an area where we have not accomplished our goals," Solomon said in a written statement to the Wall Street Journal. “Our longer term success depends significantly on developing female partners in senior roles.”
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