Episode 496

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

October 22, 2020

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About the Guest

George Lee and Clay Johnson

George Lee, Co CIO of Goldman Sachs and Clay Johnson, Chief Digital and Technology Officer of Yum! Brands

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.

Episode Overview

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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“"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.""