🧠 Food for thought

Implications, context, and why it matters.

The departing executive held unusual sway in Singapore banking tech

• Faisal Shamsee became co-head of Goldman Sachs Singapore during a leadership change after the previous Singapore head moved to Shanghai to become co-head of the firm’s China business 1.
• He was later named among the figures seen as holding real sway in Singapore banking because they controlled technology strategy and hiring 2.
• His exit comes as Goldman Sachs and other banks push AI into more of their operations. In his last LinkedIn post, Shamsee mentioned a visit from John Madsen, Goldman’s global chief technology architect, who discussed AI, cloud computing, and data priorities 3.

This exit marks a wider change in finance hiring

• The departure of a partner-level engineer after nearly 25 years at Goldman Sachs adds to the fight for seasoned technical leaders across global finance 3.
• The shortage stands out in Singapore. The finance sector created an estimated 6,500 jobs in the year cited, including 1,700 technology roles 2. Labor shortages persisted. Employment Pass restrictions, Singapore’s work visa rules for foreign professionals, also remained in place 2.
• Engineering heads now carry more weight in technology choices and hiring. That makes retention tougher and exits more disruptive 2.