Goldman Sachs just named a new head of technology in EMEA

Oscar Williams-Grut
The logo of Goldman Sachs is displayed in their office located in Sydney, Australia, May 18, 2016.

REUTERS/David Gray/File Photo

LONDON — Goldman Sachs on Tuesday named a new head of technology for Europe, the Middle East, and Africa, according to a memo seen by Business Insider.

Joanne Hannaford, a partner at the bank since 2014, is taking on the role from Damian Sutcliffe. The bank announced in a separate memo that Sutcliffe is retiring after 23 years at the investment bank.

Hannaford, based in London, is part of Goldman's Technology Executive Leadership Group and Firmwide Technology Risk Committee, according to the memo from the global cohead's of Goldman's tech division John Madsen and Umesh Subramanian.

Hannaford joined Goldman in 1997 helped build the firm’s global compliance technology and conflicts technology architectures, the memo states.

Hannaford is also closely involved in Goldman's Women in Technology Network and detailed in a recent blog post on the bank's website her various efforts to encourage women and girls to get into technology and engineering. "I’ve reached a stage in my career where I feel greater responsibility for developing a stronger pipeline of technical opportunities for women," she wrote.

Madsen and Subramanian thank Sutcliffe for his "exceptional contributions to the firm and the technology division" and write: "Damian has played a key role in attracting, retaining and developing the next generation of leaders."

Jo hannaford

Goldman SachsHannaford's elevation to head of technology in EMEA is part of a wider shake-up in the tech leadership at Goldman. Madsen and Subramanian were themselves only named coheads of global tech in January after the departure of Don Duet, a 28-year Goldman veteran.

Elisha Wiesel was also named Goldman's new global CIO in the same January shake-up, taking over from Marty Chavez. Chavez, a tatted-up former tech exec who is close to CEO Lloyd Blankfein, is taking on the role of CFO of Goldman in April.

Goldman is placing increasing emphasis in its tech credentials amid a global rise in fintech — financial technology — startups that are luring capital and talent away from Wall Street. Goldman employs 11,000 engineers globally and Blankfein likes to refer to the company as a tech company rather a bank.

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