How is it when Goldman Sachs decides that it has to have you? – Not that it would quite like to recruit you on account of your exceptional academics and multiple internships, but that it has an existential yearning for you?
Ask 51 year-old R. Martin Chavez, Goldman’s chief information officer since the end of 2013. Business Insider has a detailed exposé of ‘Marty’s’ person and career. We learn that he’s gay and has ‘tattoo sleeves.’ He’s married to a British physicist and has a young son. He graduated magna cum laude from Harvard with a degree in biochemistry, took a masters in computer in science followed by a PhD in information services at Stanford. We learn that he’s a really nice guy who’s ‘impossible to dislike,’ that he gets on with everyone and was one of Goldman’s first openly gay employees.
Most of all though, we learn what happens when Goldman Sachs sets its heart on hiring you. In 2005, Goldman COO Gary Cohn is said to have personally called Chavez, then aged 40, and said, “I was just calling to share with you that you’re coming back.” Chavez, who had worked for Goldman for four years in the 1990s, dutifully returned.
One year later, he was promoted to partner and seven years later he became CIO – a role with responsibility for 9,000 Goldman employees. As Business Insider points out, Chavez is the most important Goldman executive you’ve never heard of. He’s also living proof that finance careers really can begin at 40.
These are the jobs that large investment banks just don’t appear able to find people for.
What types of people do investment banks really like to hire?
The Right Background (Guardian)
Children from wealthier families but with less academic ability are 35% more likely to become high earners than their more gifted counterparts from poor families. (Guardian)
Still Got it (WSJ)
78 year-old who helped design one of the first hearing implants during the Vietnam War decides to start hedge fund. (WSJ)
Global Promotion at Greenhill (Financial News)
David Wyles, European co-head of Greenhill’s advisory business, has just been named co-president of the whole firm.
The Odey European fund, run by Crispin Odey, the billionaire financier, is the third-worst performing hedge fund of 2015, down 14.8% to mid-July.
The head of Credit Suisse asset management held a ‘subterranean disco party.’
Quote of the Day:
“For all the talk about disruptive, creative, and curious employees, most firms still prefer to hire and promote people who follow rules and are well-behaved. That is, being rewarding to deal with, and particularly behaving in consistent and predictable ways, is a critical career weapon across the world,” why it really pays to be boring at work.