Paulo Costa, 29, Becomes Goldman’s Youngest MD Amid Celebration

URGENT UPDATE: In a groundbreaking achievement, Paulo Costa, just 29 years old, has been named the youngest managing director in Goldman Sachs’ history during the firm’s 2025 promotions. The announcement, made on Thursday, October 12, 2023, has set the financial world buzzing, especially among his colleagues in the London office.

Costa, who leads dividend trading within Goldman’s equities division, celebrated this milestone with colleagues amid cheers and excitement. By early afternoon, the atmosphere in the office was electric as employees awaited the news of their new promotions. “I was sitting a few rows away from my wife when I got the call. She was the first person I spoke to,” he shared, highlighting the personal joy that accompanied his professional success.

This promotion caps off a remarkable year for Goldman Sachs, with third-quarter revenues in their equities division climbing 7% compared to the previous year. Costa’s work, focusing on financial contracts that allow major investors like hedge funds to trade without purchasing stocks outright, has been instrumental in navigating turbulent market conditions.

Costa’s journey to this prestigious role has not been without challenges. He has faced significant market volatility, including the pandemic and recent economic shifts. “When you really learn about the markets and the inner plumbing of things, is when things get messy,” he explained, reflecting on how these experiences shaped his approach.

Born in Portugal to a family of doctors, Costa initially pursued a path in finance that surprised his parents. However, he has found immense fulfillment in his career. “I think they’re happy I did it,” he said, recalling how his early interest in financial markets sparked during the European sovereign crisis when he was just a child.

After attending the University of Warwick and serving as the equities chief investment officer for the Warwick Investment Fund, Costa joined Goldman Sachs as a summer analyst in 2016. He advises aspiring finance professionals to find their passion, emphasizing, “You’re only ever going to be very good if you can work hard at something for a very long time.”

The celebration of Costa’s promotion included a Champagne toast on Goldman’s eighth floor, attended by senior leaders and approximately 150 colleagues. Among them was Lorenzo Longo, a mentor who celebrated Costa’s achievement with pride. “He was almost as excited for my phone call as my wife,” Costa laughed, acknowledging the support he has received throughout his career.

Despite the new responsibilities that come with his title, Costa remains grounded, stating, “I don’t think I necessarily have to impose myself now as a leader more than I was a week ago.” He recognizes the significance of his role at such a young age, saying, “I never imagined that, when I was 29, I would be at this stage of my career.”

As Costa steps into this leadership position, the financial community watches closely for how this young trailblazer will shape the future of Goldman Sachs. His journey serves as an inspiration to many in the industry, showcasing the impact of hard work, dedication, and a passion for finance.

Stay tuned for more updates on Costa’s career and Goldman Sachs’ evolving leadership.