Goldman Sachs Hiring 100 Coders for Trading Teams

Investment banking giant Goldman Sachs is planning on adding 100 new jobs to its trading divisions according to a new report by Bloomberg.

But the US firm is not looking for Wolf of Wall Street-style salespeople. No, the company is instead only going to be hiring coders, with most new hires likely to be based in London or New York.

Adam Korn, co-head of engineering Goldman's trading division, told Bloomberg that his team would be raiding competitors in the financial services industry, as well as looking to onboard coders from the technology world.

“You are going to see us very actively in the marketplace going after this kind of talent,” Korn said. “Historically, engineers were not seen as a part of the business. That’s obviously changed.”

Pitch approved

The new plan was approved by senior executives at Goldman Sachs. Korn noted that he had to present his plan as though it were an investment pitch.

“We walked in there with our ‘Shark Tank’-esque plan,” Korn said. “The leadership group was excited and interested and the firm is putting money where its mouth is.”

Once they join the group, many of these new hires will be working on Marquee, a trading and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term platform that Goldman Sachs has been developing for several years.

Work on the platform has progressed well. In the first quarter of this year, the company reported revenue of more than $2 billion from Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term trading - the first time it had made that much in years.