On Wall Street, front office staff continue to win hands down over technologists in the recognition stakes. Goldman Sachs has just named 266 new managing directors, but only 8 of them are technologists, job site eFinancialCareers notes.
The fact that so few technology employees received a promotion – 3% of Goldman’s new MDs – is disappointing given that 25% of the firm’s total headcount is in technology, the site points out.
Technology-focused MDs on Goldman’s honor list, according to eFinancialCareers’ research, include Angelo Curreli, who is based in New York and works as an IT manager; Hari Moorthy, currently a technology fellow and chief technology officer for risk management in New York; Grant Richard, who works in technology infrastructure, again in the US; Gunjan Samtani, head of banking technology, Asia Pacific and Bangalore, based in India; Laura Takacs, a technology professional based in New York; Robert Tankoos, a 13-year Goldman veteran based in Hong Kong; Martin Walsh, who has worked at the firm for over 16 years, most recently as in equities order management systems in New York and Chris Wells, global head of interest rate products technology in London.
To make it to managing director, technologists must prove their skills, leadership, passion and, importantly, have a track record of delivering.
“Goldman in particular places a great deal of emphasis on mentoring and rarely recruits senior technologists externally, so anyone making it to MD has to have shown evidence of this,” says Paul Bennie, managing director of IT in finance headhunters Bennie Maclean. “Generally, though, to make it managing director you must have achieved significant revenue generating opportunities through technology, or realized a tangible reduction in costs and have a history of designing and delivering technical solutions.”
If technologists struggle to make it to senior roles at Goldman Sachs, they are at least better off than HR professionals, eFinancialCareers points out.
Goldman’s MD list only appears to include one employee in this category: Stephen Markman, global head of experienced hiring.