Goldman Sachs Exec Suggests Employees Asks Themselves If They're Highly Replaceable

And, if upon taking that long look in the mirror and posing that question, the answer you come up with is "Yeah, pretty damn replaceable," don't come crying to Goldman partner Marty Chavez.

Mr. Chavez, who was promoted just over two years ago to oversee the company’s 9,000 or so computer engineers — nearly a third of the staff — is pushing the 147-year-old company to, among other things, share more of its data and software with clients. His centerpiece project, Marquee, gives clients access to sophisticated trading data previously available only by phoning a Goldman employee...Some colleagues complain that the company is handing out valuable information while paving the way for job cuts. Mr. Chavez has responded forcefully, according to people who witnessed some of these conversations. “He basically said something to the effect of: ‘If your job is a purely manual job and you are just clicking buttons, you should look to upgrade your skills set now,’” said Adam Korn, a trading executive. “He was pretty direct.”

A Gay, Latino Partner Tests Goldman’s Button-Down Culture [Dealbook]