Most prestigious group(s) in Goldman's CIMD
I know are many divisions in Goldman's Consumer Investment Management Division, and I'd like to get some people's take as to which they think are the best (in terms of prestige and/or exit options)
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I thought CIMD was just wealth management?
CIMD also houses GSAM (Goldman Sachs asset management)
edit: and also the newer consumer stuff (i.e. Marcus)
Thanks for clarification
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probably AIMS or one of the investment strategy groups
Depends on what you're looking for. I would break CIMD (and I'll lump GSAM in here even though it's technically not part of CIMD anymore) into a few groups:
PWM Field: PWAs can make a ton of money if you have a big book. It's general Private Wealth Management for UHNW investors; this has been covered before. If you're not a client-facing PWA the field jobs aren't great (e.g., WMPs who are essentially operational support)
PWM Home Office: PMG (Portfolio Management) is an interesting investing role - they manage PWM portfolios. AIMS is their manager selection team which would involve third party due diligence on funds offered to PWM clients. There's also a ton of other home office functions that are more back-office (e.g., Ops, Compliance, etc.) that serve as traditional back-office functions.
Marcus: all of the digital consumer financial jobs are typical FinTech-esque jobs. Product Management, Marketing, etc. Pay is above street for consumer banking roles but obviously rarely touches comp seen by more classic "high-finance" jobs
GSAM: I would say the best front-office roles are ACB Sales (their distribution team) and portfolio management / analyst roles. Note that GSAM isn't considered a top-tier asset manager. There are obviously also a ton of back-office roles.
ISG: Investment Strategy Group comes up with asset allocation models which I believe encompass both PWM and GSAM (obviously the models are different). This group typically hires very academic types, typically with PhDs in mathematics, economics, etc. They're responsible for overweight/underweight calls on asset classes (e.g., large cap US equity, hedge funds, etc.).
Thanks, this really provides soem good insight! By any chance are you familar with PAG (Portfolio Advisor Group)? They are a smaller group in CIMD but I know they work closely with PWM and ISG
PAG supports the PWAs and essentially serves as a resource for questions from the field. For example, a client may ask a PWA what the best ESG-focused mutual fund for income generation is; if the PWA doesn't know, they can call PAG who provide these insights. PAG works closely with PMG since PMG is managing these portfolios. I don't know a ton about PAG but would imagine you learn much less about portfolio management than you would in PMG and less about due diligence than you would in AIMS, so it's a bit of a hybrid role.
Would agree generally with this but wanted to add just some small details. GSAM is still part of CIMD I believe but I think they are just reporting results separately. And AIMS is not really tied too much with PWM. They are part of GSAM and still work more with institutional clients like a typical FoF would. Agreed about the ISG, quite academic culture that I've heard good things about. Can't speak much to PWM or Marcus
Good insights. I believe AIMS stretches across both GSAM and PWM; in GSAM, they are performing due diligence on funds to establish their FoFs and, for PWM, they perform due diligence on mutual funds, separate accounts, etc.
Which groups in GSAM focus on fundamental investment research? Either in fixed income or equities
Where does AIMS private equity investing team rank within CIMD?
On a related note, how are prospects in regards to transitioning into buy-side "traditional" PE roles at large PE funds?
as w/ other FoF's, best candidates transition well to direct PE but many also choose to do investor relations
spoke with a couple people who had exited from AIMS PE and both said that there were solid exits to traditional PE groups and that their own transitions weren’t bad
anyone knows which group contains "Investing and Research Opportunities" in GS CIMD?
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