Goldman Sachs is hiring new digital assets professionals

Mathew Mcdermott, the global head of digital assets at Goldman Sachs displayed optimism about discovering further blockchain applications, as they are hiring new digital assets professionals.

Goldman Sachs recently had a massive staff cutoff of approximately 3200 leaving their jobs. Despite that, the digital asset unit of Goldman Sachs is open to reinforcing its team of 70.

In an interview with Bloomberg, in Hong Kong Mathew Mcdermott stated that their digital assets team of four has come a long way to become a team of 70.

He further added that the bank is immensely supportive of discovering new blockchain applications and that their company is looking to hire more staff members as per the requirement. The recruitment will happen this year.

Despite having the largest round of layoffs since the global financial crisis of 2008-2009 last month, the firm is considering expanding its crypto team. This implies that they are still willing to dive deeper into the crypto sector.

A closely related source shared that the recent jobs cut affected executives at all levels, from senior to junior, and the company’s core trading and banking units are its main focus.

During Goldman Sachs’ 2023 Investor Day in New York, CFO Denis Coleman made a clear announcement. He said that the firm is focusing on prioritizing strategic hires. Further stated that a part of the firm’s cost-cutting measures, like massive staff cut-off, will involve delaying the replacement of vacating employees this year.

FTX collapse has alerted everyone in the field to be careful. Matthew stated in December that the firm intend to buy more crypto companies that were reasonably priced to expand. He also added that the company is already conducting a background check or investigation on some reliable crypto firms in the market.

Matthew called FTX the “poster child” of the crypto industry and that despite what goes on in front the off-stage staff ‘continues to perform’.