[ by Melanie Gretchen ]

Goldman Sachs has a new short list in the small classes of executives it has selected to become partners.  Amid cut payroll and new regulations, the 70 executives will bring current partner pool to almost 480.

Who made the cut.  Among the elite:

• John Mallory, who oversees the western region of the firm's private wealth management business.  Known for: overseeing: (i) the firm's relationship with the Steinbrenner family, and (ii) for the key role he played in renegotiating Alex Rodriguez contract with the Yankees in 2007.
• Jack Daly, another executive from the firm's principal investment division
• David Schwimmer, a banker
• Heather Bellini: a well-known software industry research analyst
• Russell Horwitz, chief of staff to firm chief executive officer Lloyd C. Blankfein and secretary to the firm's powerful management committee.  Known for: his role in hiring Mr. Siewert and plays a role in forming the firm's public relations strategy.

A League of Its Own. The firm and its rivals discarded their partnership structures years ago when they went public.  Nevertheless, the selection process continues at Goldman, to create incentives and promote its top performers;  every 2 years, top executives spend months vetting candidates for partner financial rewards and access to top jobs at the firm.  Judgement is based on many qualities including financial contribution to the firm and job, like lawyers or risk managers.  In turn, those who do not make partner may opt to leave.

For further details, go to [Dealbook, 11/14/12].