Partners of Goldman Sachs, the US-based investment bank, voted formally yesterday to end 130 years of partnership and to list part of the company on the stock market in the autumn.

The public offering is expected to be 10 to 15 per cent of the firm, likely to be worth $3 billion to $5 billion.

Current partners stand to make more than $40 million each from the switch to public incorporation, though only part of that value will be realised through the equity offering. Among the beneficiaries will be the former Attorney General and EU commissioner, Mr Peter Sutherland.