🗂 Link: Goldman Sachs brings on co-CIO, CTO

The strategy has four parts, according to the presentation. The investment bank wants to:

Offer a digital client experience

Increase automation

Build scalable infrastructure

Make room for innovation

To do so, Goldman Sachs is using 45% of its $4 billion engineering budget in 2019 on investment. The other 55% will be used to run the bank.

In the financial services sector, banks are making huge investments in technology. JPMorgan allocated $10.8 billion last year and has earmarked $11.4 billion for technology in 2019. Bank of America spent $10 billion on tech in 2018.

Source: Goldman Sachs brings on co-CIO, CTO