MARK RALSTON/AFP/Getty In 2000, Goldman Sachs had 600 traders in New York City making markets in US stocks. Today, that number is down to fewer than 10. The statistic is one of several nuggets from a Credit Suisse report on how the bank uses technology, following a conversation with chief information officer Marty Chavez. The analysts estimate that Goldman spends $2.5 billion to $3.2 billion on technology each year, or about 7% to 9% of revenue. This has big implications for the bank's staff. In...
One statistic perfectly encapsulates the impact of technology on Wall Street jobs (GS)
Business Insider - 8 Dec 2015 18:58
MARK RALSTON/AFP/Getty In 2000, Goldman Sachs had 600 traders in New York City making markets in US stocks. Today, that number is down to fewer than 10. The statistic is one of several nuggets from a Credit Suisse report on how the bank uses technology, following a conversation with chief information officer Marty Chavez. The analysts estimate that Goldman spends $2.5 billion to $3.2 billion on technology each year, or about 7% to 9% of revenue. This has big implications for the bank's staff. In...
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