Goldman Sachs unveils Amazon-backed cloud service for hedge funds

The multinational investment bank is entering the cloud computing business to help asset managers and hedge funds access data faster and easier

Adam Selipsky, chief executive of Amazon Web Services, and David Solomon, chief executive of Goldman Sachs, speaking at AWS ReInvent in Las Vegas.

Financial services are only at the beginning of digital reinvention, according to David Solomon, chief executive of Goldman Sachs.

The American multinational investment bank announced a new partnership with Amazon Web Services (AWS) on Tuesday with Goldman providing access to its market data and software tools to hedge fund managers through AWS cloud services.

“We have an extraordinary platform with incredible relationships with the biggest clients in the world. They all compete on a thin edge so we are always looking for ways that we can provide services and deliver value to them,” Solomon told the Business Post.