Martin Chavez, the new CFO of Goldman Sachs is not a finance guy, nor an accomplished Wallstreeter. He is a technology leader. Is it sending a signal to the financial services industry? A quick look at his Linkedin profile will give you some insights: Martin Chavez
A Ph.D. from Stanford in Medical Information Sciences and Master of Science in Computer Science from Harvard University.
One-third of the staff at Goldman Sachs are computer engineers (almost 9000 of them) and he was leading them as the CIO. Now his team’s product which is a programming language for risk calculations is helping Goldman Sachs to replace humans with software.
The average Wall Street game of human predictions are becoming redundant. Finance professionals are replaced by computer programmers and mathematicians.
This is an entirely new configuration for the financial services industry.
This is what he says in a nutshell: “If your job is a purely manual job and you are just clicking buttons, you should look to upgrade your skillset now.” That way he is pretty direct.
