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Goldman Sachs is calling on engineers to come up with new business models

Goldman Sachs plans to recruit a fresh cohort of engineers to develop ideas for new apps and services, as the bank seeks to diversify its product range.

The recruits will be paid $100,000 (£76,000) to work on a year-long programme designed to “support the development of new business models”, according to a job listing posted online.

“Building on our decades of quantitative and technical experience, we are developing new, highly-scalable web platforms to provide direct access to content and services,” the bank said. “These tools are helping to transform and simplify client experiences.”

The successful candidates will not be full-time employees of the company, but engaged as consultants, the company said. They will be expected to use the bank’s APIs and datasets to “explore the intersections of technology and financial services”. Candidates must have a degree in a technical field, and previous experience carrying out technical research is regarded as a “plus”, according to the ad.

In 2015, Goldman’s then chief executive, Lloyd Blankfein, described the bank as a technology company. Before stepping down as CEO last year, he gave a speech in which he claimed “engineering underpins our growth initiatives”.

The company has also made a recent push into retail banking, launching a consumer brand called Marcus. A partnership with Apple on a new credit card is expected to be at the centre of the company’s plans.