Fortune 100 | episode 496

How the Co-CIO of Goldman Sachs and CDO/CTO of Yum! Brands are Driving Revenue

George Lee is the Co-Chief Information Officer of Goldman Sachs, a $36 billion investment bank and financial services company. George has spent 26 years with the firm, previously serving as the Co-Chairman of the Global Technology, Media, and Telecom Group and Co-Head of Investment Banking Division Engineering. Clay Johnson is the Chief Digital and Technology Officer of Yum! Brands, a quick-service restaurant conglomerate with annual revenues around $5.5 billion. The company’s brands include KFC, Pizza Hut, Taco Bell, among others. In this role, Clay oversees the Company’s global technology strategy, partners with the brands to create best-in-class digital journeys, and leads cross-brand efforts to accelerate the Company’s digital commerce strategy. Prior to joining Yum! Brands, Clay was EVP and Enterprise CIO for Walmart. October 22, 2020

496: Goldman Sachs Co CIO George Lee and Yum! Brands Chief Digital and Technology Officer Clay Johnson discuss

  • Goldman Sachs’ strategic decisions around technology, including how it is building new businesses that are adjacent to its historical core businesses
  • How Goldman is building the digital consumer bank of the future, and the transaction banking business it is building
  • Clay’s view on the importance of having a fail-fast model, especially in the days of COVID
  • The pivot Yum! Brands has made since COVID
  • Clay and George’s view on the customer experience, including how 
    • Customers have come to expect the Amazon experience everywhere 
    • The importance of the business product and the tech product working together to create a seamless journey for the customer
  • How the lines between the business and IT are eroding, including how 
    • Agile and DevOps are beginning to move into the business
    • Why the people capable of leading businesses are oftentimes engineers

Among a variety of other topics.

This episode was recorded live at the 2020 Metis Strategy Digital Symposium.

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This episode is sponsored by Zoho and Sykes

"A new thing at the firm is to entrust a massive new revenue project to an engineer as a business leader. There is both the idea that we have to conjoin and create better connections, but also there is this idea that the distinction between those two worlds is really eroding and the people that are capable of leading businesses are oftentimes engineers."

The World Class IT principles in yellow were the focus of this interview

  • 01 1- People
  • 02 2- Infrastructure
  • 03 3- Project and Portfolio Management
  • 04 4- IT & Business Partnership
  • 05 5- External Partnerships

From strategy to implementation

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