科技產業欣欣向榮 華爾街人才流向硅谷

One of the country’s largest banks, Morgan Stanley, is losing its chief financial officer to Google in the most visible example yet of the flow of talent from Wall Street to Silicon Valley.

美國銀行業巨擘摩根士丹利(Morgan Stanley)的首席財務官即將加盟谷歌(Google)。截至目前，這是人才從華爾街流向硅谷的最明顯例證。

Ruth Porat, Morgan Stanley’s chief financial officer since 2010, has been one of the most powerful women in a financial industry that has struggled to promote and hold on to its female executives. She is going to Silicon Valley while it is facing its own issues about gender balance.

在竭盡所能提拔和留住女高管的金融行業裏，從2010年開始擔任摩根士丹利首席財務官的露絲·波拉特(Ruth Porat)是最具影響力的女性之一。而她即將投身其中的硅谷目前正面臨性別平衡方面的問題。

Ms. Porat is following in the steps of other big names from the bastions of East Coast power who have recently decamped to the ascendant technology industry on the West Coast. The former White House spokesman Jay Carney said last month that he was joining , and the former Obama aide David Plouffe joined Uber last year.

最近，一些大名鼎鼎的人物紛紛撤離東海岸的權力堡壘，投身到西海岸蒸蒸日上的科技行業之中，波拉特正追尋着他們的腳步。前白宮發言人傑伊·卡尼(Jay Carney)上個月稱，自己即將加盟亞馬遜()；給奧巴馬(Obama)當過助手的戴維·普洛夫(David Plouffe)則在一年前被Uber招致麾下。

But Silicon Valley has been drawing much of its most valuable new talent from Wall Street. A top banker at Goldman Sachs, Anthony J. Noto, moved west last year to become the chief financial officer at Twitter.

不過，華爾街一直是硅谷大舉吸納最具價值的新鮮血液的地方。去年，高盛集團(Goldman Sachs)的高管安東尼·J·諾託(Anthony J. Noto)搬到西海岸，成了Twitter的首席財務官。

Less than a decade ago, Wall Street firms were the premier destination for young college graduates and talented executives. More recently, though, the financial industry has been struggling to keep growing as it faces a raft of new regulations and a lack of public confidence as a result of the financial crisis.

不到10年前，年輕的大學畢業生和有才幹的高管都把華爾街當成他們職業生涯的首選目的地。但近來，金融業一直在勉爲其難地維持增長，同時還要應對一系列監管新規以及金融危機以來對其缺乏信任的公衆。

Silicon Valley, on the other hand, is experiencing a period of blockbuster growth that has created dozens of billion-dollar start-ups practically overnight.

相對而言，硅谷正在經歷一段飛速發展的時期，幾乎在一夜之間創造了數十家價值10億美元級別的初創企業。

“Smart people go to where they feel there is the most growth,” said Robert Reffkin, who left Goldman in 2012 after seven years to found a start-up, Compass, that is focused on real estate.

“聰明人都會去他們覺得增長空間最大的地方，”羅伯特·裏夫金(Robert Reffkin)說。2012年，裏夫金在高盛工作七年後離開，成立了初創公司指南針(Compass)，該公司專注於房地產業務。

At the Massachusetts Institute of Technology, a top source of young recruits, only 10 percent of undergraduates went into finance in 2014, compared with the 31 percent who took jobs on Wall Street in 2006, before the financial crisis. Software companies, meanwhile, hired 28 percent of M.I.T. graduates in 2014, compared with 10 percent in 2006.

在作爲新人首要來源的麻省理工學院（Massachusetts Institute of Technology，簡稱MIT），2014年只有10%的本科生進入了金融領域，而在金融危機前的2006年，共有31%的人選擇了華爾街的工作。與此同時，軟件公司2014年共聘請了28%的MIT畢業生，這個比例在2006年則爲10%。

Similar trends have been evident at the other top training grounds that have long fed the upper ranks of Wall Street. At Harvard Business School, for example, the percentage of graduates going into finance dropped to 33 percent last year from 42 percent in 2006, while the numbers going into technology jumped to 17 percent from 7 percent.

在長期以來爲華爾街提供高層工作者的其他重要學校，也明顯出現了類似的趨勢。例如在哈佛商學院(Harvard Business School)，去年進入金融行業的畢業生人數比例已經從2006年的42%降至33%，而進入科技領域的人數則從7%躍至17%。

Wall Street is certainly not hurting for talent. It remains the top destination at many business schools and is still one of the most selective industries for hiring. Last summer, Morgan Stanley had 90,000 applicants for roughly 1,000 entry-level summer jobs.

華爾街當然不缺乏有才者。它仍然是許多商學院的首選目的地，同時還是最挑剔的用人行業之一。去年夏天，摩根士丹利共有9萬名申請者申請大約1千個初級暑期工作。

Ms. Porat’s move, meanwhile, is one in a long list of instances in which Wall Street has served as a training ground for the leadership ranks of other industries. Most famously, Goldman has produced two Treasury secretaries during the last two decades. Ms. Porat was on the short list of people being considered for deputy Treasury secretary in 2013, but she eventually asked for her name to be withdrawn.

同時，大量事實表明，華爾街一直是其他行業領導者的訓練場，波拉特僅是其中一個案例。最廣爲人知的是，高盛過去20年曾培養了兩名財政部長。2013年，波拉特曾出現在財政部副部長的最終候選人名單上，但她最後提出了移除自己名字的請求。

In the last few years, though, Silicon Valley has strengthened its case as the new center of economic gravity in the United States. Established companies like Google and Apple have grown rapidly at the same time that start-ups like Uber and Twitter have flourished.

然而過去幾年，硅谷強化了它作爲美國經濟影響力新中心的理由。谷歌和蘋果(Apple)等老牌公司獲得了迅速發展，同一時間，Uber和Twitter等初創企業也蒸蒸日上。

Mr. Reffkin said that when he was at Goldman, as chief of staff to the bank’s president, “it became clear that we are in the middle of a software revolution.”

裏夫金說，當他在高盛擔任銀行總裁的幕僚長時，“我逐漸意識到，我們正處在軟件革命的中心。”

“I want to be a part of that,” he added.

他接着說，“我想參與其中。”

The economic strength of the technology industry adds to the lifestyle differences — including a relaxed dress code, better weather and a more freewheeling culture — that have long attracted young employees to start-ups. Compare that with Wall Street, where new legislation has increased the emphasis on hierarchical decision-making and standardized processes.

科技行業的經濟實力，再加上生活方式上的差異——其中包括寬鬆的着裝要求、更好的氛圍和更加隨心所欲的文化——一直在吸引年輕工作者前往初創企業。相比之下，針對華爾街的新法規則更重視分層決策和標準化流程。

“Just the thought of walking into a tall building in a suit or high heels and going to meetings where you’re discussing a regulated industry where it’s increasingly difficult to innovate — most of the people I talk to don’t find that prospect appealing,” said Martha Josephson, a partner in the Palo Alto, Calif., office of Egon Zehnder, an executive recruiting firm.

高管獵頭公司億康先達(Egon Zehnder)在加州帕洛阿爾託的合夥人瑪莎·約瑟夫森(Martha Josephson)說，“想想要穿着西裝或高跟鞋走進一棟高樓，開會討論一個受到嚴密監管且越來越難以創新的行業——我交談過的大部分人都不認爲這有什麼吸引力。”

As the movement between industries has taken hold, it has often built on itself. When Marissa Mayer became Yahoo’s chief executive in 2012, she hired Jacqueline D. Reses, a former Goldman banker, as the company’s chief development officer. Ms. Reses’s job, in essence, was to help Yahoo recruit new talent and to find promising companies to buy and team up with.

隨着行業間的這種流動開始形成，它往往會愈演愈烈。2012年，當瑪麗莎·梅耶爾(Marissa Mayer)成爲雅虎(Yahoo)首席執行官時，她聘請了前高盛銀行家傑奎琳·D·雷瑟斯(Jacqueline D. Reses)來擔任公司的首席開發官。雷瑟斯的工作，其實就是幫雅虎招募新人才，並尋找有前途的公司進行收購或合作。

She has led Yahoo’s dozens of acquisitions, including the $1.1 billion purchase of Tumblr and the $640 million purchase of Brightroll. Naturally, she brought in many of her own to help.

她領導了雅虎的數十起併購，其中包括以11億美元購買Tumblr，6.4億美元購買Brightroll。當然，她帶了很多她的人進入新公司。

“I have hired people out of Wall Street, primarily because it was a peer group that I was very familiar with,” Ms. Reses said.

雷瑟斯說，“我挖了一些華爾街的人，主要因爲這是一個我非常熟悉的朋輩羣體。”

The most noticeable departures from Wall Street have been the high-level banking executives like Ms. Porat and Mr. Noto, who have taken their financial expertise to companies that were started by programmers.

華爾街最引人注目的離職事件中都是波拉特和諾託這樣的銀行高管。這些人把自己的財務專業知識帶到了程序員所開創的公司。

But the more troubling trend for Wall Street banks is the lower-ranking programmers who are opting to head west at a time when banks are more dependent than ever on software and technology.

但是，對於華爾街的銀行而言，更令人不安的趨勢是，當銀行比以往任何時候都更依賴軟件和技術的時候，級別較低的程序員卻選擇了前往西部。

At Goldman, for instance, the number of high-level programmers-cum-bankers — what the firm calls “strats” — has risen 43 percent since 2009. These are the employees who are most likely to be lured away by a Facebook or Google.

例如在高盛，加入銀行業的高級程序員人數——公司所謂的“戰略資源”（strats）——自2009年以來已經增加了43％。這些工作人員最有可能被Facebook或谷歌這樣的公司挖走。

The start-ups, meanwhile, are not just stealing talent from Wall Street. Many of them are also trying to build companies like the payment processors Square and Stripe, which could eventually siphon business from the financial industry.

與此同時，這些初創企業不只是在從華爾街偷走人才。它們當中有許多還試圖建立像Square和Stripe這樣的支付處理公司，這些公司最終可能會搶走金融行業的業務。