
“1995, the firm revamped its governance structure, forming two new eighteen-person decision-making groups: the partnership committee and the operating committee. The operating committee focused on coordination of strategy and operations among the firm’s departments, divisions, and geographies. The partnership committee oversaw the firm’s capital structure as well as the selection of partners.”
―
What Happened to Goldman Sachs: An Insider's Story of Organizational Drift and Its Unintended Consequences
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