One of the women Goldman Sachs promoted to MD in November resigned

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Mai Shin

Female managing directors (MDs) are a comparative rarity in investment banks. When Goldman announced its bumper list of MD promotions in November 2017, just 24% of the 509 names were women. You might think, then, that Goldman would do everything it can to keep its female MDs happy. Maybe it does - but this hasn't stopped one of those it promoted just six months ago from resigning.

Goldman insiders say Mai Shin, a Tokyo-based managing director in Goldman's macro structuring business, is leaving the firm. Shin is understood to be joining a start-up. Her exit, which is still being finalized, has raised eyebrows coming soon after she made MD.

Shin's entire career was at GS. She joined the firm in 2007 after graduating in economics from the University of Tokyo and was made MD after just 11 years. In article that appeared on Goldman's website a month ago (but has since been taken down), Shin attributed her success to having a mentor who worked with her for 10 years, and to Goldman's commitment to promoting women.

Shin's departure comes after Goldman Sachs parted company with Pablo Salame and Isabelle Ealet, leaving Ashok Varadhan as sole head of its securities division. Varadhan has a macro background, and could therefore be a good thing for Goldman's macro trading business.

Shin isn't the first person to leave Goldman's macro business this year. Various traders have left the London business since January and James Westwood, the former MD in charge of hedge fund sales for Hong Kong and Singapore resigned in April to become CIO of a driverless car company. Westwood was also promoted to MD in November 2017.

Goldman Sachs didn't immediately comment on Shin leaving.

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