Goldman hires Google exec to co-head applied innovation unit – memo

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NEW YORK (Reuters) – Goldman Sachs has employed Jared Cohen, who based expertise incubator Jigsaw at Google, to co-head its newly created applied innovation unit, an inside memo confirmed, because the Wall Street powerhouse invests in expertise experience.

Cohen, who additionally served as advisor to Google’s CEO Eric Schmidt up to now, will co-head the brand new Goldman unit with George Lee, the memo stated, whose contents had been confirmed by the financial institution’s spokesperson.

“The Office of Applied Innovation will harness the revolutionary and entrepreneurial capability of our individuals and join their concepts with our international community of relationships as we proceed to put money into our companies and create new ventures,” CEO David Solomon stated within the memo.

U.S. banks are doubling down on expertise, hiring workers from information scientists to machine studying engineers, to compete in opposition to the rising menace from monetary expertise companies.

Goldman has additionally backed synthetic intelligence startups, just lately main a funding spherical for H2O.ai, a man-made intelligence and computerized machine studying agency that secured $72.5 million from buyers.

Cohen can even function president of Global Affairs. Cohen can also be an adjunct senior fellow on the Council on Foreign Relations.

The observe stated Lee will proceed to serve in his function as co-chief info officer till Oct. 1, and can then transfer to the workplace of applied innovation.

At that point, Marco Argenti will turn out to be sole chief info officer, the memo stated. Argenti joined Goldman from Amazon Web Services in 2019, his Linkedin profile confirmed.

CNBC earlier reported the hiring.

(Reporting by Saeed Azhar; enhancing by David Evans)



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