Following the collapse of its bond trading revenue, Goldman Sachs is looking forward to growing revenue from its consumer digital finance operations. To deliver this priority, the investment bank is looking forward to elevating its technology hiring by 25-30% in India.
Currently, the bank’s engineering team is engaged in generating data mining and machine learning algorithms to find correlations between different financial data sets and products. The team is also working on workflow digitization and process automation. According to Samtani, earlier the hiring was focused on areas like accounting, operations, and technology. Today the company is looking to hire engineers with expertise in the areas of mathematics, statistics and computer science.
As reported by People Matters earlier, Gunjan Samtani, Co-Chief Operating Officer at Goldman Sachs, was quoted saying,” The firm is elevating its engineering campus recruits in India by 25-30% this year to make a larger push into technology.” She also mentioned that the firm has doubled its engineering hiring from Indian campuses from 120 in 2014 to 250 this year. Moreover, summer interns have increased to 370 this time, from 200 in 2016.
It is also reported that Goldman has appointed Mike Blum, a technology veteran to drive its electronic trading business. Mike Blum is the former chief technology officer at KCG Holdings which recently got acquired by Virtu Financial.