Six New Zealand-based Goldman Sachs partners are expected to cash in when Goldman Sachs US takes full ownership of its Australian and New Zealand operations, with senior partners expected to clear up to $40 million.

According to the Australian Financial Review, local partners include Byron Pepper in the investment banking division, Duncan Rutherford in the securities division and Rebecca Cottrell in federation legal division.

Local managing director Andrew Barclay is also a partner, and the Star-Times understands other local partners include executive director David Goatley and Bernard Doyle, a New Zealand-based strategist.

Barclay, Cottrell and Rutherford are also listed as directors of the New Zealand business.

The exact shareholdings of each partner is not known and Goldman Sachs was not prepared to comment.

However, the AFR values the entire business at around $1.4 billion and senior partners are understood to have up to a 3% share of that.

Partners may, however, have had to buy their shares when they were appointed. Exactly how that works or the price paid is not known.

The AFR reported there are 133 partners across Australia and New Zealand who will get payouts of about $550 million in total in a combination of cash and scrip.

What is known is that the buyout will see Goldman Sachs rolling out new products and engaging in even bigger deals.

Barclay said under the current joint venture structure, the local business was precluded from bringing trading activities onshore.

"The move to 100% ownership will allow development of a significant Australian dollar and New Zealand dollar trading, commodity trading [and other trading] capability in our business."

He said that makes sense from a client perspective and he sees significant revenue opportunities.

Goldman Sachs NZ will also have better access to the global company balance sheet.

"The move to 100% ownership will mean Australian and New Zealand deals will get more direct access to global balance sheet support, first up," Barclay said.

"The local business has had a relatively modest balance sheet which was the first option for our clients, but we will now access the global balance sheet, which is close to $1 trillion – which significantly enhances the options for clients in their financing considerations."

The buyout represents an investment in the business in Australia and New Zealand, Barclay said, which will allow Goldman Sachs NZ to offer more to clients.

Investment in the local business will see the rollout of new global trading systems that will improve the local business's ability to trade more seamlessly for clients.

The acquisition will require a minimum 75% acceptance by the local shareholders for it to proceed. A vote is expected in the middle of the month.