Goldman CEO Says Technology Transformation Will Take Time

Technology investments at big banks like Goldman Sachs will take time to pay off; CEO David Solomon speaking at the Milken Conference told the audience that the tech changes were evolutionary and would take longer than people might think; Goldman’s Marcus has only been around since 2016 and points to the fact that there is a need for digital but that it won’t happen overnight; he went on to say, “One of the big challenges, and one of the reasons why in our business scale matters so much, is the amount of capital you have to spend to have the best technology and be in the best position to serve clients is increasing at a reasonable pace.” Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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