- Pine Street mandated that written developmental business-
related objectives be established with the participation of the
coachee’s manager. - The coaches selected were neither Goldman Sachs employees
nor employees of the major coaching firms that have sprung
up in recent years but rather were sole practitioners who had
broad experience in management consulting or teaching.
Participants describe the program as a highly individualized,
time-efficient approach to development, and it has become a core
offering of Pine Street and a sought-after reward for fast-track lead-
ers. A formal objective of many of these coaching assignments is to
strengthen the coaching skills of the coaching “client,” thereby
further strengthening the apprenticeship culture of the firm. An
interesting unanticipated benefit of the program has been that the
core Pine Street coaches have become virtual members of the Pine
Street team. Over time, they have acquired an intimate knowledge
of Goldman Sachs’s businesses and culture. Combining this knowl-
edge with their broad experiences in many different firms, they have
brought to Pine Street a number of ideas from outside organizations
that have been adapted to fit the culture of Goldman Sachs. The
group of coaches convenes periodically to exchange coaching best
practices with one another and with Pine Street and to bring their
perspectives and observations to the firm’s leadership. Recently, for
example, the coaches met with the team responsible for the firm’s
performance review process to discuss possible improvements. Pine
Street also holds parallel best-practice exchange sessions for the
coachees, which is focused on how Goldman Sachs professionals
can get the most out of coaching relationships.
Partnering with Line LeadersThe fundamental structure of Pine Street is one of partnership with
the line leaders of the firm. Other than the coaches and a few
consultants and academics who teach an occasional course, all Pine
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