LONDON (Reuters) – Goldman Sachs Group Inc’s former chief data officer, Elisha Wiesel, has joined Israeli fintech startup The Ground as chairman of its board of administrators, the corporate stated on Monday.
The Ground supplies software program that helps banks make their IT operations extra environment friendly by offering a greater view of the know-how techniques they deploy, figuring out which of them may not be wanted or may must be repurposed.
The corporate says this can assist banks pace up digitisation and scale back their IT prices and complexity, partially by reducing spending on techniques offered by distributors which may have turn into redundant.
Wiesel, who spent greater than twenty years at Goldman Sachs, will assist the corporate increase in the USA and companion with extra banks and traders.
The transfer comes as giant banks the world over look to enhance their know-how infrastructure by making it much less advanced and dear.
The necessity to scale back prices and enhance their digital capabilities has elevated in the course of the coronavirus pandemic, with 1000’s of workers working remotely and extra prospects seeking to entry banking companies on-line.
This can assist additional increase the enchantment of The Ground’s know-how, Wiesel stated in an interview.
“The need has only been felt more,” stated Wiesel. “Look at all the roles that are being executed remotely.”
Wiesel joined Goldman in 1994 as a quantitative buying and selling strategist and held quite a few senior roles together with chief danger officer. He retired from Goldman final 12 months.
The Ground’s prospects embrace HSBC Holdings Plc, Banco Santander and Intensa SanPaolo Spa its web site exhibits.
Reporting by Anna Irrera; enhancing by Jason Neely