Goldman Sachs has elected Dr Debora Spar as an independent director of the firm with immediate effect, bringing the number of directors on Goldman’s board to 11, including nine independents.

Dr Spar will be a member of each of the firm’s audit, risk, compensation and corporate governance, and nominating committees.

Dr Spar is president of Barnard College, the New York-based liberal arts college for women. Before joining Barnard in July 2008, she spent 17 years on the faculty of Harvard Business School. She joined Harvard in 1991, holding a number of positions including the Spangler Family Professor of Business Administration, director of the division of research and faculty development, senior associate dean for recruiting, and chair of the Business, Government and the International Economy Unit.

Dr Spar is also a member of the Council on Foreign Relations, a member of the board of trustees of The Nightingale-Bamford School, and a member of the American Academy of Arts & Sciences.

“Debora’s valuable and independent perspective on finance and business, emerging markets and recruitment, particularly of women, will be a tremendous asset for Goldman Sachs in the years ahead,” said Lloyd Blankfein, Goldman’s chairman and chief executive.

In related news, Goldman Sachs Private Wealth Management recruited former Thurleigh Investment Managers partner and portfolio manager David Livingston in May.