Goldman Sachs, the Wallstreet Giant is competing head-to-head with the tech giants of Silicon Valley in recruiting engineers as developers for the banking and fintech industry. George Lee, who is the bank’s co-chief investment officer, said that the investment bank now has 10,000 developers, making up about one-quarter of its total workforce.

According to Lee, major recruitment is happening from across the world, however, the company is facing major competition from the likes of Amazon, Google, Microsoft, and Facebook. In an interview, Lee said, "The trend is very much toward technology companies".