高盛集团(GS.US)流失多名资深银行家，晋升瓶颈与奖金缩水成主因

Core Insights - Goldman Sachs has experienced a significant loss of over ten senior investment bankers this year, which is higher than usual, driven by internal restructuring and a slow business start in 2025 [1] - Despite the talent exodus, Goldman Sachs remains the top firm in Wall Street's M&A rankings, with fee income soaring close to 2021 levels [1][2] Group 1: Talent Movement - Some departing bankers have joined competitors such as JPMorgan, Wells Fargo, and Citigroup, while others have moved to boutique investment firms like Evercore [2] - The departures are partly due to expectations of limited promotion opportunities this year, including entry into Goldman Sachs' elite partner tier, and anticipated bonus reductions due to stagnant trading activity in the first half of the year [1][2] Group 2: Financial Performance - Goldman Sachs' investment banking net revenue for the first nine months of this year has reached its highest point since 2021 [2] - The firm led a $55 billion sale of Electronic Arts to a private equity consortium and the Saudi Public Investment Fund, and advised on the spin-off of Amrize, valued at $26 billion [2] Group 3: Market Trends - The global M&A market saw a 40% year-on-year increase in transaction value to $1.26 trillion in the third quarter, although the number of deals fell by 16% to 8,912, marking the worst performance for the third quarter in 20 years [2] - Despite a decrease in total transaction volume, the average deal size has increased, reducing the need for personnel [2] Group 4: Leadership Changes - Goldman Sachs has implemented significant leadership changes this year, establishing co-head structures in major departments and adding six new members to the management committee [3] - The annual layoff plan has been moved up to the second quarter, with a typical performance-based reduction of 3%-5% of positions [3] - The total number of employees decreased by 2% in the second quarter compared to the first quarter, totaling 45,900 [3]