Goldman Sachs Executive: New Hires Will Manage AI Agents From Day One

At the Milken Institute Asia Summit in Singapore on October 8, Kevin Sneader, Goldman Sachs' head of Asia Pacific (excluding Japan), said new hires in finance will manage AI agents from their first day on the job, rather than waiting years to take on managerial roles. Reassigning current mid-level managers will be a 'generational challenge' across many industries, he added.

Sneader, speaking during a panel on AI and finance, noted that younger workers now enter the workforce 'managing AI agents' and must make full use of their 'virtual army.' In traditional banking, junior employees spend years on analytical and preparatory work before being promoted to managers. Panelists said the bigger question is not mass unemployment but how AI will reshape roles.

Sandra Peterson, operating partner at Clayton, Dubilier & Rice, said the traditional career ladder may no longer exist. Professional services firms used to be like pyramids, she said, with employees climbing step by step. As AI handles most routine work, it is unclear whether firms will need as many entry-level positions.

Chia Der Jiun, managing director of the Monetary Authority of Singapore, echoed the shift, saying operational staff will need to become managers and supervisors of AI agents, and banks will need fewer fresh graduates for analysis and preparation roles.