Goldman Sachs hires Alphabet tech incubator CEO Jared Cohen for new innovation group
- Goldman Sachs is adding Alphabet's Jared Cohen to help start a new innovation group, CEO David Solomon said Tuesday in a memo obtained by CNBC.
- Cohen is a protege of former Google CEO Eric Schmidt and founder of Jigsaw, an incubator at the tech giant.
- The group, called the Office of Applied Innovation, will be led by Cohen and co-chief information officer George Lee.
- "Working closely with leaders across Goldman Sachs, George and Jared will specifically identify and advance commercial opportunities for the firm that are at the intersection of a changing global marketplace, shifts in the geopolitical landscape and rapidly evolving technology," Solomon said.
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Goldman Sachs CEO David Solomon has hired another senior executive from the technology sector.
The investment bank is adding Alphabet's Jared Cohen, a protege of former Google CEO Eric Schmidt and founder of Jigsaw, an incubator at the tech giant, to help start a new innovation group, Solomon said Tuesday in a memo obtained by CNBC.
It's the latest step Solomon has taken to inject a technology focus into the 153-year-old investment bank. The group, called the office of applied innovation, will be led by Cohen and co-chief information officer George Lee. In 2019, Solomon hired former Amazon Web Services executive Marco Argenti as co-chief information officer.
"Working closely with leaders across Goldman Sachs, George and Jared will specifically identify and advance commercial opportunities for the firm that are at the intersection of a changing global marketplace, shifts in the geopolitical landscape and rapidly evolving technology," Solomon said. They will report directly to Solomon.
Cohen is joining New York-based Goldman at its senior-most rank: He'll be a partner and management committee member and will also serve as president of global affairs, Solomon said.
The moves leave Argenti as sole chief information officer, starting in October, he added.