This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. How can you tell a good hedge fund manager? They drive a minivan. Sportscar driving hedge fund managers possess a trait called “sensation seeking” and are much more likely to “terminate their funds, engage in fraudulent behavior, load up on non-index stocks, exhibit lower R-squareds with respect to systematic factors, and succumb to overconfidence,” according to new academic research cited on Bloomberg. Separately, if you want to gain the trust of investors and make a fortune as a hedge fund manager, don’t be crass about it. Then, perhaps, the bank can justifiably describe itself as a tech company. Still, if and when CEO Lloyd Blankfein steps down, Chavez is now in a better position to eventually position himself for the top job.
He’s an innovator who has transformed technology at Goldman and his tattoo-sleeves imply a rebel tendency that doesn’t fit entirely comfortably in the corporate Goldman culture. The Goldman Sachs-type – bald, heavy-set, raspy-voiced, according to the FT – doesn’t exactly describe Chavez. He also previously headed up Goldman’s equities business so is not a complete outsider choice. He has his own PR division and has been leading the fastest growing divisions at Goldman Sachs. This is a combined 9,000 of Goldman’s 34,000 or so people. Cohn’s role is set to be split between current CFO Harvey Schwartz (“very high EQ”) and co-head of investment banking David Solomon (“a hard-charging guy”), according to the WSJ.Ĭhavez now leads both tech and the team of quants and mathematical wizards in Goldman Sachs’ strats group and has therefore been growing in influence.
Gary Cohn, who is now on his way to Trump’s administration, famously headhunted ‘Marty’ Chavez back to Goldman Sachs after a three-year absence by saying “I was just calling to share with you that you’re coming back.” Now, Chavez is likely to be named CFO as the bank reshuffles the senior ranks. Martin Chavez, its current chief information officer, to chief financial officer is a big statement about the future of the bank. Is Goldman Sachs really a technology company? Maybe not, but the elevation of R.
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