Funds News

MOVES-Goldman names Kirk, Lee to new investment bank engineering role

(Adds details on new roles, executives’ background)

NEW YORK, April 21 (Reuters) - Goldman Sachs Group Inc has named Marie Louise Kirk and George Lee as co-heads of engineering for its investment bank, a new role created to foster technological change within the business, according to a memo seen by Reuters.

The organizational change comes as Goldman has been integrating programmers into its investment bank to reduce grunt work for dealmakers and offer new digital tools for clients. Although investment banking has historically not had much technological innovation, Goldman is trying to change that.

Kirk had been head of programmers - which Goldman calls “strats” - who sell products for its bond-trading business in the Americas. Lee had been chief information officer for the investment bank. He will maintain his other role as co-chairman of technology, media and telecommunications (TMT) investment banking.

Kirk will report into the technology division of Goldman while Lee will report into the investment bank.

“The goal is to promote connectivity and alignment across these groups and encourage more innovation and technology-driven change in our business,” said the memo, which was signed by Goldman’s top technology and investment banking executives.

Both Kirk and Lee are partners. Kirk joined Goldman in 2003 as a derivatives trader while Lee, a career investment banker, joined in 1994. (Reporting by Olivia Oran in New York; Writing by Lauren Tara LaCapra; Editing by Chizu Nomiyama and Lisa Shumaker)