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After the Goldman Rush

Dina Powell-McCormick is the latest in a surprisingly high-level cohort of partners exiting the bank. It’s the latest sign of how finance is changing and just how hard it is for Goldman Sachs to be Goldman Sachs.

Last week, Dina Powell-McCormick exited the firm after two tours of duty totaling 16 years.
Last week, Dina Powell-McCormick exited the firm after two tours of duty totaling 16 years. Photo: Riccardo Savi/Getty Images for Concordia Summit
William D. Cohan
June 7, 2023

Things are starting to look a little more angsty than usual at Goldman Sachs these days, as more and more high-profile bankers, traders, and executives are voting with their feet and exiting the firm. Among them are people like Katie Koch, a partner who left last September to become the C.E.O. of TCW, the big Los Angeles-based alternative asset management firm that was bought in February by the Carlyle Group, now run by Harvey Schwartz, who lost out to David Solomon for Goldman’s top job in 2018.