Goldman Sachs technology MD escapes to a senior role at $34bn software firm

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A senior Goldman Sachs technologist has just left the firm for Red Hat, the open source enterprise software provider that was recently acquired by tech giant IBM for $34 billion.

Tim Hooley, a technology managing director at Goldman Sachs, left Goldman this month and has joined Red Hat as chief technology officer for the Europe, the Middle East, and Africa (EMEA) region.

Hooley had been at GS for over 22 years. Red Hat is his first big move.  At Goldman he led research and sales services technology focusing on digital transformation, marketing, analysis and operations. In 2016, Hooley drove GS' first Degree Apprentice Program for Computer Science in partnership with Queen Mary University in London.

The acquisition of North Carolina-headquartered Red Hat, is IBM’s biggest deal ever and the third-biggest deal in the history of the U.S, technology sector. Red Hat is known for its support of the Linux operating system. The company describes itself as offering a Linux platform with, "military-grade security, support across physical, virtual, and cloud environments, and much more." IBM boss Ginni Rometty, said the acquisition was,"a game-changer," and that it, "changes everything about the cloud market. IBM will become the world's #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses."

Hooley is not the only Goldman Sachs employee to leave and sell cloud computing services back to financial services clients. Last month, Yinka Fasawe, a Goldman technology analyst, joined Google's London office as a 'customer engineer' for Google Cloud, working with financial services clients.

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