(Reuters) - Goldman Sachs Group Inc is in the process of shuffling its ranks of partners and could well name as many as 100 executives to the coveted post this year, the New York Times said.
Also, Goldman may strip about 60 executives of their partnerships this year to make way for fresh talent, the Times said, citing people with first-hand knowledge of the process.
Executives who are stripped of partnership would retain their base salary but their bonuses could be curtailed, potentially costing them millions of dollars in a good year, according to the newspaper.
Goldman has begun vetting new candidates for partner positions and discussions relating to which of the existing partners must go began in recent weeks, the newspaper said, citing people with knowledge of the process.
The shuffling of partnership ranks takes place every two years at Goldman and the 2010 partners will most likely be announced in November, the paper said.
Goldman could not immediately be reached for comment by Reuters outside of regular U.S. business hours.
(Reporting by Sakthi Prasad in Bangalore; Editing by Muralikumar Anantharaman)
