For Recruiters
Where is $1.2bn a year going?

Goldman Sachs made a big hire to keep track of technology spending

Goldman Sachs has hired a new co-chief financial officer for its engineering division.

Ville Vieltojarvi has joined Goldman in New York as a managing director (MD) and co-CFO for engineering according to his LinkedIn profile. Vieltojarvi joined Goldman in April after six years at Microsoft, where he was most recently finance director for the finance business intelligence division.

Goldman didn't immediately respond to a request to comment on Vieltojarvi's arrival. It comes as the firm has been making a series of senior hires for its technology division after recruiting Marco Argenti from Amazon Web Services (AWS) and Atte Lahtiranta from Verizon Media Group in September last year.  Vieltojarvi seems likely to be Lahtiranta's hire: the two men worked together at Nokia in the late noughties. Vieltojarvi was at the Finnish mobile phone company between 2004 and 2014 (when Nokia's devices and services division was acquired by Microsoft); Lahtiranta was there from 2002 to 2011.

Vieltojarvi's new role at Goldman comes after Mike Salica, the former CFO for the GS engineering division, left last month to become CFO of the information services division at the London Stock Exchange.

Goldman spent $1.2bn on communications and technology last year and is in the process of attempting to transform itself from a mere bank into a provider of APIs for use across the finance industry. As such, technological innovation is at the forefront of the firm's strategy. 

However, banks are also under pressure to cut costs and technology spending has become increasingly bloated in recent years. Banks like Deutsche Bank are cutting long term technology spend by retiring surplus systems and accelerating the amortization of 'software intangibles,' suggesting that experienced tech finance directors can make a big difference. 

As well as appointing Vieltojarvi, Goldman has released a role for an EMEA chief of staff for its EMEA engineering team.

Have a confidential story, tip, or comment you’d like to share? Contact: in the first instance. Whatsapp/Signal/Telegram also available. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Markus Winkler on Unsplash

AUTHORSarah Butcher Global Editor

Apply for jobs

Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs
State Street Corporation
Business Strategy & Planning, Assistant Vice-President
State Street Corporation
New York, USA
State Street Corporation
Cloud Platform Engineer - Entry Level
State Street Corporation
Boston, USA
Selby Jennings QRF
Quant Risk Analyst - Global Macro
Selby Jennings QRF
Manhattan, USA
Capgemini Financial Services USA, Inc.
Public Relations Manager
Capgemini Financial Services USA, Inc.
New York, USA
Selby Jennings Strategy
Head of ECM Analytics
Selby Jennings Strategy
Wilmington, USA