When Goldman Sachs Group’s CIO baton passed last September from the retiring Steven Scopellite (No. 6 in 2013) to R. Martin Chavez, the job got bigger. In addition to 8,000 technology division engineers, Chavez took on 2,000 others inside such revenue-producing divisions as securities, investment banking and asset management. The result, says the 50-year-old, is “a single leadership and accountability point,” with the division heads sharing tech oversight. With a BS in biochemistry and a master’s in computer science from Harvard University and a Ph.D. in medical information sciences from Stanford University, Chavez has bounced between Wall Street and the start-up world. He co-founded Quorum Software Systems in San Francisco, serving as CTO from 1989 to ’93, then worked as a senior energy strategist at Goldman for four years and as global head of energy derivatives at Credit Suisse Financial Products for three. Next he was CEO of Kiodex, a New York risk management systems firm that SunGard Data Systems bought in 2004. He returned to Goldman in 2005 and was co-COO of equities before becoming CIO. Thanks to the concurrent trends of open-source development and cloud computing, Chavez says, “we can do something we couldn’t do before — extend our platform out to clients.” When weighing software options, “we now have a preference for download, build, buy,” in that order. Much of the software required for the new regulatory environment does not exist, he says, and will have to be built.
10
R. Martin Chavez
Chief Information Officer
Goldman Sachs Group
[PNR]
The 2014 Tech 50