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Bank of America hires another tech MD away from Goldman Sachs

Caroline Arnold is based in the Bank of America Tower in New York.

Investment banks have continued to battle for people to head up their technology functions throughout 2017, and Goldman Sachs has been the target in recent months. The latest MD to leave Goldman's technology group is Caroline Arnold, who quit to join Bank of America Merrill Lynch as a managing director and global head of enterprise technology.

Arnold's responsibilities encompass audit, the chief administrative office, global human resources, global corporate affairs and legal technology. She is reporting to Laurie Readhead, a control function technology executive and the bank’s chief data officer, a BAML spokesperson confirmed.

At Goldman, Arnold worked for four years as an MD and the global head of compliance technology responsible for enterprise design and global efficiencies, as well as securities profitability. Goldman hired her after a 20-year tenure at Morgan Stanley. Arnold led a practice area group at Morgan Stanley that executed the technology strategy for client relationship applications, profitability and many client-facing websites. She was responsible for the technical decisions and project execution for Morgan Stanley’s custom-built software platforms.

She's the second senior tech hire from Goldman to join BAML in recent months. Howard Sloan, most recently a managing director and chief information officer of Goldman Sachs Bank USA since 2016, left to head up BAML's wealth management back-office technology. Goldman also lost Karen Rossi, a managing director within its investment banking technology division, to J.P. Morgan in November.

BofA Merrill Lynch recently lost Chris Shilakes, a 20-year technology investment banking veteran, to Nomura.

Photo credit: rocks3/GettyImages

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AUTHORDan Butcher US Editor

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