Goldman Sachs JBWere CIO quits

in brief Local investment bank Goldman Sachs JBWere today confirmed its chief information officer Richard Tait had left the group.

Company spokeswoman Mikeela Sinclair said Tait had left the firm, which also provides other financial services, at the end of April this year, although she could not clarify where he was bound.

Tait will be replaced by Goldman Sachs Japan securities technology head Julian Simon, who will move back to Sydney for the role. Locally Goldman Sachs operates as a joint venture after the global firm Goldman Sachs merged its local operations with Australian investment bank JBWere in late 2003.

The move by the bank to hire a CIO with expertise in securities (or trading) technology comes as Goldman Sachs JBWere is reportedly revamping a large number of core systems as part of an extensive change program.

Most other large local banks such as the Commonwealth Bank of Australia and the National Australia Bank are also currently involved in major system refreshes.