Goldman Sachs Competing With Silicon Valley for Tech Developers

One-quarter of Goldman's workforce is comprised of tech developers.

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Goldman Sachs seems to be in competition with Google, Amazon, Microsoft and other top tech-oriented companies for the best engineering talent it can find. The investment bank currently has 10,000 developers, according to George Lee, co-CIO of Goldman. That means one-quarter of its workforce is focused on technological development.

Lee, a 25-year Goldman veteran, first became known in Silicon Valley when he headed the bank’s tech investment division. In 2018, he was named co-chief information officer. That move placed him at the center of Goldman’s massive infrastructure and software investments.

Marco Argenti, who’s held the reigns as an Amazon Web Services vice president until 2013, joined Lee in September as Goldman’s other Chief Information Officer. Goldman is set on boosting its engineering talent at a rapid pace.

Lee, a 25-year Goldman veteran, first became known in Silicon Valley when he headed the bank’s tech investment division.

Lee, speaking from Goldman’s Technology and Internet Conference in San Francisco this past week, said the bank is bringing in top talent from all over the world. But, the bank is focused on recruiting from top-tier tech companies.

“The trend is very much toward technological companies. We need to compete at that level,” Lee stated.

The bank is also recruiting candidates from colleges across the country.

Goldman’s operations are relying more than ever on solid cloud infrastructure. Last year, Goldman also launched the Apple Card, which used advanced security technology and allows users to pay from their iPhone.

Lee said the company is focused on hiring top engineers to help Goldman keep up with software trends, especially open-source software. The bank also has tech workers doing their jobs across the globe in areas like India, Poland, and Dallas.

While developers are accustomed to working remotely, there are some small concerns for Goldman. Lee referred to the strict regulatory environment that Goldman operates within. He added that the bank has to be super mindful of their obligation while balancing how their tech workers operate.

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