Goldman Sachs

Goldman Sachs has appointed George Lee as its investment banking CIO to drive a new technology agenda for that division.

Internal appointment Lee has been handed the newly-created CIO divisional responsibilities following a change of senior staff that will also see him take over as chair of the technology, media and telecoms (TMT) banking unit.

Lee has worked at Goldman Sachs for almost 20 years, and was co-head of the TMT group since 2008. The re-shuffle of staff will see Dan Dees take over Lee's role in the group, which has been responsible for successes such as the Twitter initial public offering (IPO) in 2013.

According to an internal memo seen by the New York Times, as CIO Lee will “identify and assess the impact of disruptive technology themes across our client base, provoking strategic discussion with clients across all industries and driving commercial opportunities for them and for the firm”.

He will also work alongside group CIO Marty Chavez “to define a new technology agenda” for the investment banking arm, and lead initiatives to improve the use of data to serve clients.

Chavez was appointed as Goldman Sachs CIO in September 2013, taking over from Steven Scopellite, who retired after 28 years at the firm. The change of CIO came weeks after a costly computer system glitch caused a wave of erroneous orders to be made by Goldman Sachs, resulting in four executives being placed on administrative leave.