NEW YORK (Reuters) - Goldman Sachs Group Inc has named Marie Louise Kirk and George Lee as co-heads of engineering for its investment bank, a new role created to foster technological change within the business, according to a memo seen by Reuters.
The organizational change comes as Goldman has been installing programmers into the investment bank to reduce grunt work for bankers and offer new digital tools for clients. Although investment banking has historically not had much technological innovation, Goldman is trying to change that.
Kirk had been head of programmers - which Goldman calls “strats” - who sell products for its bond trading business in the Americas. Lee had been chief information officer for the investment bank. He will maintain his other role as co-chairman of technology, media and telecommunications (TMT) investment banking.
Reporting by Olivia Oran in New York; Editing by Chizu Nomiyama; Writing by Lauren Tara LaCapra