Goldman Sachs’ engineers now make up about 25% of its global workforce – and technology jobs dominate its Hong Kong hiring to an even greater extent. Of the 99 Hong Kong-based vacancies that Goldman currently has on its careers website, 50 are in engineering (the division which houses its technologists and strats).
Drill down further and 10% of these engineering roles are focused on a single function at Goldman: prime services, a unit that provides prime brokerage, derivatives clearing, stock loan, and risk/margin financing services. Goldman wants to grow its Asian prime services team in 2019, after expanding its headcount by 15% last year to record levels, reports Bloomberg, without providing recruitment numbers.
The prime services engineering jobs that Goldman has already opened up suggest that many of these new 2019 roles will be for developers based in Hong Kong. The bank’s job site describes prime services as a “technology intensive business”.
Prime services tech has become a “booming area” in which Goldman and other global banks will be hiring in Hong Kong this year, adds Vince Natteri, a former programmer who’s now managing director of IT search firm Pinpoint Asia. Banks’ long-term drive to improve their prime services efficiency via new technology outweighs their concerns about short-term market declines. In 2018, the Asian hedge fund industry suffered its biggest losing year in a decade, according to Eurekahedge data.
Goldman in Hong Kong is recruiting developers to work on both in-house and client-facing prime services products. In the former category, as part of the equities quant program, you’ll be developing global systems (primarily in Java) using technologies such as “elastic search, GS dynamic compute farms, RabbitMQ, rest service architecture, and cloud-based storage”. Meanwhile, as a client technology solutions senior specialist, you’ll have experience of Java and C++, Python, and R as well as data management and scripting technologies such as SQL, Perl, and UNIX.
But while Goldman may be hiring in prime services technology this year, actually landing one of these roles will be difficult, even for those whose skills match the firm’s job descriptions. Competition among Hong Kong technologist for these kind of “sexy front-office, low-latency development roles” is strong, says Natteri. “Low-latency jobs usually appeal to someone who values using new technology more than developing a breadth of product knowledge,” he adds.
Goldman Sachs did not respond to a request to comment on its prime services technology hiring.
Have a confidential story, tip, or comment you’d like to share? Contact: email@example.com
Image credit: holgs, Getty