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The 2016 Tech 50: R. Martin Chavez

Chavez, CIO of Goldman Sachs Group, comes in at No. 6 this year, up from No. 7 in 2015.

  • By Peter Vasiliev

6
R. Martin Chavez
Chief Information Officer
Goldman Sachs Group

Considering that some 11,000 of Goldman Sachs Group’s 36,500 employees are engineers, “we think of technology as an essential driver of innovation in all our businesses,” says chief information officer R. Martin Chavez. “Against the ever-evolving market structure backdrop, our ability to innovate and provide a range of execution alternatives is essential for our clients, who increasingly depend on our ability to integrate market expertise with automation across products.” Priorities and opportunities center on automating services and deepening client relationships, he says, pointing to the Marquee Studio and SIMON (Structured Investment Marketplace and Online Network) apps as examples. The former consists of portfolio and risk analytics tools for internal and external clients; the latter includes education, investment customization and performance analysis tools for financial advisers. “Large financial service firms have generally trailed the tech sector in adopting open APIs [application programming interfaces], so our leadership in that area is exciting,” Chavez says. This year the firm consolidated e-trading assets and trading businesses in a systematic market-making group, says the 52-year-old, who became a Goldman partner in 2006 and CIO in 2013 after serving as global co-COO of equities. A senior-level digital strategies group was formed to coordinate technology initiatives across the securities division. With the acquisition in April of General Electric Co.’s GE Capital Bank and its $16 billion in online deposits, now part of Goldman Sachs Bank USA, the venerable Wall Street firm is in uncharted consumer lending territory. “We’ve learned so many lessons from building our existing businesses, but we have immense humility for what we don’t know, having never built a retail business organically at the firm,” Chavez explains. “In many regards, we are a start-up with 147 years of experience.” A Stanford University Ph.D in medical information sciences who also earned a master’s in computer science from Harvard University, Chavez has done two stints with Goldman Sachs, initially in the J. Aron & Co. currency and commodities division from 1993 to 1997. Before returning in 2005, he served as global head of energy derivatives for Credit Suisse Financial Products and CEO of risk management systems company Kiodex.

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The 2016 Tech 50
1. Catherine
Bessant
Bank of America Corp.
2. Jeffrey Sprecher
Intercontinental Exchange
3. Lance Uggla
Markit
4. Phupinder Gill
CME Group
5. Shawn Edwards and Vlad Kliatchko
Bloomberg
6. R. Martin Chavez
Goldman Sachs Group
7. Robert Goldstein
BlackRock
8. Adena Friedman
Nasdaq
9. Deborah Hopkins
Citi Ventures
10. Daniel Coleman
KCG Holdings
11. Stephen Neff
Fidelity Investments
12. David Craig
Thomson Reuters
13. Michael Spencer
ICAP
14. Michael Bodson
Depository Trust & Clearing Corp.
15. Charles Li
Hong Kong Exchanges and Clearing
16. Chris Concannon
BATS Global Markets
17. Blythe Masters
Digital Asset Holdings
18. David Rutter
R3CEV
19. Neil Katz
D.E. Shaw & Co.
20. Lee Olesky
Tradeweb Markets
21. Richard McVey
MarketAxess Holdings
22. Seth Merrin
Liquidnet Holdings
23. Robert Alexander
Capital One Financial Corp.
24. Brad Katsuyama
IEX Group
25. Antoine Shagoury
State Street Corp.
26. David Gledhill
DBS Bank
27. Lou Eccleston
TMX Group
28. Andreas Preuss
Deutsche BÖrse
29. Dan Schulman
PayPal Holdings
30. Scott Dillon
Wells Fargo & Co.
31. Mike Chinn
S&P Global Market Intelligence
32. Craig Donohue
Options Clearing Corp.
33. Gary Norcross
Fidelity National Information Services
34. Steven O'Hanlon
Numerix
35. Sebastián Ceria
Axioma
36. Michael Cooper
BT Radianz
37. Tyler Kim
MaplesFS
38. Neal Pawar
AQR Capital Management
39. David Harding
Winton Capital Management
40. Chris Corrado
London Stock Exchange Group
41. Brian Conlon
First Derivatives
42. Jim Minnick
eVestment
43. Stephane Dubois
Xignite
44. Mazy Dar
OpenFin
45. Yasuki Okai
NRI Holdings America
46. Kim Fournais
Saxo Bank
47. Jock Percy
Perseus
48. Robert Schifellite
Broadridge Financial Solutions
49. Brian Sentance
Xenomorph Software
50. Pieter van der Does
Adyen

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