Technology investments at big banks like Goldman Sachs will take time to pay off; CEO David Solomon speaking at the Milken Conference told the audience that the tech changes were evolutionary and would take longer than people might think; Goldman’s Marcus has only been around since 2016 and points to the fact that there is a need for digital but that it won’t happen overnight; he went on to say, “One of the big challenges, and one of the reasons why in our business scale matters so much, is the amount of capital you have to spend to have the best technology and be in the best position to serve clients is increasing at a reasonable pace.” Source.
