29-Year-Old Trader Becomes Goldman Sachs’ Youngest Managing Director

Goldman Sachs has made headlines with the promotion of Paulo Costa, a 29-year-old trader who has become the youngest managing director in the firm’s history. This significant event unfolded in the London office, where excitement has been building since morning.

Path to Leadership

Paulo Costa serves as an executive director overseeing dividend trading across Europe, the Middle East, and Africa. His recent promotion came as part of a new class of 638 managing directors at Goldman Sachs.

The firm reported a 7% increase in third-quarter revenues for its equities division compared to the previous year, which can be attributed to higher net revenues in financing, an area closely aligned with Costa’s work.

Personal Highlights

Costa shared the news of his promotion with his wife, a prime broker at Goldman, who has been a significant part of his journey since they met at the firm in 2018. The couple recently married, adding a personal milestone to a professional achievement.

Professional Expertise and Experience

In his role, Costa’s team helps major investors, such as hedge funds, make strategic bets on stocks using financial contracts that fluctuate with share prices. They play a crucial role in ensuring accurate dividend payouts, significantly affecting the cash flows of trades.

Background and Education

• Born and raised in Portugal in a family of doctors.
• Initially expected to pursue a medical career but shifted to finance.
• Became interested in financial markets during the European sovereign crisis.
• Graduated from the University of Warwick, serving as the equities chief investment officer for the Warwick Investment Fund.
• Joined Goldman Sachs as a summer analyst in 2016.

Celebrating Achievements

The announcement of Costa’s promotion was celebrated on the firm’s trading floor with a toast by regional leaders. A larger party followed, attended by about 150 people, which included former colleagues and mentors.

Costa acknowledged the responsibilities that come with his new title but expressed confidence in his ability to lead without feeling the need to change his approach. He emphasized the importance of passion and dedication to excel in one’s career.

Reflecting on his journey, Costa noted that he was keenly aware of how far he had come since first starting out at Goldman Sachs at age 21, feeling proud of his achievements at such a young age.