Goldman Sachs recently has been the scene of some highly unusual personnel moves.  More than a dozen partners have reportedly announced plans to leave - a much higher number than in past years.  Dealbook attributes this phenomenon to cost-cutting at the top ranks of the firm.  And so-called junior partners are not the only ones being named. Among those leaving, according to Dealbook, is Kevin Kennedy, a member of Goldman's executive committee who recently ran its Latin American operations.  However, Mr. Kennedy has been a party for 38 years, so his decision was not entirely unexpected.  Jeff Resnick, the head of commodity trading, also tendered his papers.  More names are offered below. Partnership at Goldman Sachs. It's a long, arduous climb to the top and once someone becomes partner, he or she is not so willing or likely to give it up too quickly.  Goldman employs some 28,000 persons, and only a small percentage reach this level.  Only 100 or so new partners are named every 2 years.  Prospective partners are vetted for months.  Notwithstanding the public's resentment of Wall Street and Goldman, in particular, partnership has remained an important part of Goldman’s culture. To keep the numbers manageable, some partners leave to make room for the newcomers.  And this year is no exception, except that cost-cutting appears to be taking a greater toll on the numbers.  Like every other shop on the Street, Goldman has seen its revenue and profits decline, particularly in light of weak trading volumes. The firm has slashed costs where it can, successfully wringing out more than $1 billion in noncompensation costs from its operations.  And, it's laid off people - more than 1,000 employees, and reducing its total head count by 1,200 from one year ago.  Reducing the number of partners typically will result in significant cost savings. Other Factors Impacting the Partner Ranks. As Goldman itself shrinks - by 1,200 in the past year - so too will the number of partners - which is supported by the fact that the partnership committee reportedly tries to keep the percentage of partners to employees at 1.8%. Another factor is that Goldman had a relatively large pool of partners before it started to shrink this year.  In 2010, 110 new partners were named - one of the biggest single appointment rounds in its history.  That increased the partner class to 475.  And before the partner class of 2012 is named, the pool will need to get even smaller. Other Partners Who Are Leaving. In addition to Mr. Kennedy and Mr. Resnick, at least a dozen other partners will be leaving.

• Leslie Biddle, CFO of the firm’s mining investing effort in commodities.
• Charlotte Ransom, co-head of the European fixed-income currency and commodities and equities structuring group.
• Blake Mather, who manages bank loan sales.
• Yusuf Alireza, co-president of Goldman Asia-Pacific.
• Rob Gheewalla, head of the principal debt group in Europe.
• Paul Bernard, co-head of Asia Pacific research.
• Gregg Gonsalves, head of real estate M&A.
• David Torrible, head of One Delta sales for the Asia Pacific region excluding Japan.
• Martin Devenish, head of equities in Europe and in Middle East growth markets.
• Joseph Gleberman, a senior partner in the merchant banking division.
• Buckley Ratchford, head of the firm’s global bank loan trading and distressed investing.  FYI: He's the executive who gained notoriety last year for accidentally leaving his Goldman Sachs-embossed MasterCard in a restaurant in TriBeCa;  the Comedy Channel's Stephen Colbert had a field day.

Of those departing, only Kevin Kennedy was a partner in 1999 when the firm went public.  At that time, there were 221 partners and each reaped a windfall when the company began trading publicly. For further details, go to:   [DealBook, 11/14/11]