A tech veteran has joined Goldman Sachs after leaving the biggest hedge fund in the world
On Tuesday the financial services powerhouse said Jeff Wecker, a former senior manager at Bridgewater Associates, the Connecticut-based hedge fund, will join the firm as its chief data officer, according to a Wall Street Journal report.
In April, Business Insider first reported Wecker was leaving Bridgewater after being with the firm for more than six years. He left as head of front office transformation. Wecker spent 11 years at Goldman from 1984 to 1995, according to his LinkedIn page.
Wecker is the second big tech hire by Goldman this month.
On October 3, Business Insider reported that Mike Blum, the former chief technology officer at KCG Holdings, the high-frequency trading firm recently acquired by Virtu Financial, was hired by Goldman as chief technology officer for its electronic trading unit. Bloomberg News first reported the hire.
Goldman Sachs has made technology a key part of its trading strategy. Paul Russo, the global co-COO of the equities franchise in the securities division at the bank, said it was one of two key components of the bank's strategy in equities in a recent episode of "Exchanges at Goldman Sachs."
"We have spent the last three to four years heavily, heavily investing in technology, literally redoing most things," Russo said.
According to a CB Insights report, 47% of Goldman's most recent job listings are in technology.