Goldman Sachs’ chief technology officer, Ate Ratilanta, is moving to Citadel. Bloomberg reported on Tuesday..
According to the news agency, Ratiranta, who Goldman hired in 2019, will run the hedge fund’s core engineering group and be responsible for the technology on which trading and risk management functions rely.
Neither Goldman nor Citadel issued a press release or filing about Rattilanta’s move, and Bloomberg did not disclose when he would start. But Citadel’s CTO, Rattilanta’s predecessor as Goldman’s chief technology officer, Umesh Subramanian “We look forward to welcoming Mr Ateh,” he told the news agency.
Ratiranta is not the first Goldman veteran to move to Citadel this year. Jim EspositoThe bank’s former co-head of international banking and markets will become president of Citadel Securities next month.
As in recent years, Goldman is seeing a wave of senior departures in 2024. But unlike many of the more recent alumni who joined the bank before David Solomon became CEO in 2018, Ratilanta was hired during Solomon’s tenure.
Ratiranta faced his first major test as CTO when the bank was forced to work remotely at the start of the coronavirus pandemic. More recently, tech roles at big financial institutions have become focused on the burgeoning adoption of artificial intelligence, a prospect that Citadel founder Ken Griffin said is “catching CEOs’ attention.”
At least one of Goldman’s recent departures Stephen BollingerHe went on to head another bank (in his case Julius Baer), while several others were transferred to non-banking parts of the financial sector.
Stephanie CohenThe former head of Goldman’s platform solutions division left the bank this year to become chief strategy officer at tech company Cloudflare.
Peter MintzbergGoldman’s former global head of asset and wealth management strategy left the firm last week to become CEO of cryptocurrency manager Grayscale.
Former Goldman treasurer Philip BerlinskiHe left the bank to become co-chief operating officer of hedge fund Millennium Management.
Some have even entered the central banking industry. Beth HammackShe was once a contender for the CFO position at Goldman Sachs but left the bank in February to become president of the Federal Reserve Bank of Cleveland, replacing the retiring Loretta Mester..
