Goldman Sachs names Marty Chavez CIO

Goldman Sachs names Marty Chavez CIO

Goldman Sachs has promoted Marty Chavez to chief information officer, replacing Steven Scopellite who will retire at the end of the year.

Scopellite joined Goldman in 1986 as a software engineer, becoming co-chief information officer in 2007 and sole CIO in 2011.

His retirement - revealed in memos leaked to the press and since confirmed by Goldman - comes just weeks after a costly trading systems glitch at the bank prompted an internal review.

Chavez, who moves from his current role of co-COO at Goldman's equities business, joined the bank in 1993 as a quantitative analyst. According to Reuters, he oversaw the building of an internal software platform that was originally named 'Marty' for him, although it is now called Marquee.

Says the memo: "Marty will set the firm's technology strategy and standards, further unify our technology platform and tools and work with business units to embed and optimise technology across the firm."

A separate memo reveals that Goldman is also promoting Don Duet and Paul Walker to co-heads of technology, reporting to Chavez.

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