Exclusive: Goldman Sachs names new CTO as Lahtiranta joins Citadela

“John will work with our engineers globally to ensure we continue to build and improve unified platforms, develop shared services, and further develop a collaborative and high-performance engineering culture across the company,” Argenti wrote staff last week in a memo viewed by BI. .

Lahtiranta is leaving Goldman after five years as CTO. At Citadel, he will lead the hedge fund’s core engineering group, according to the Bloomberg report.

Madsen will continue to oversee the core engineering teams and help Argenti set the strategic technology direction for Goldman. Part of its mission will likely focus on generative artificial intelligence, which has become a focal point for Goldman’s tech ambitions, as has the rest of Wall Street.

Madsen, who has a 20-year history with Goldman Sachs, will be familiar with the CTO role. He held the title from 2017 to 2020, according to LinkedIn. He has held several technology leadership positions, such as co-head of the technology division and chief engineering architect.

He joined the firm as an associate in 2003, becoming a partner in 2014, according to the memo.

In March, Madsen became head of the bank’s core engineering unit after Ilya Gaysynskiy left. The team is responsible for developing and maintaining the bank’s centralized technologies.

As ChatGPT-like technology makes its way through the bank, from the engineering division to front-office workers, Goldman’s technology leaders will be responsible for introducing a cultural concept. and technological transformation. With its ability to automate menial work, generative AI is shaking up the way Wall Streeters can stand out from the crowd.

Nowadays, software engineers have to think creatively and ask “why” something needs to be developed before they figure out “how” to develop it. Top Wall Street firms, including Goldman, now want their programmers to have studied liberal arts courses like philosophy and English. For his part, Madsen himself studied philosophy at the University of California, Berkeley and Rutgers University, according to LinkedIn.