Pierre De Belen is the head architect of Goldman Sachs’ open source data management platform, Legend, which was recognized by the 2020 American Financial Technology Awards as Best Collaboration Initiative. We spoke with Pierre to learn more about Legend and why it’s considered a game-changer for the industry.
Pierre is a managing director and technology fellow in Data Engineering who joined the firm in 2006. His global Data Platform team is responsible for developing data-centric and user-focused solutions to power the firm’s Data Strategy. We had the chance to talk to Pierre and learn more about Legend, and why it’s a game-changer for the industry.
First, can you tell us about Legend and why it represents a technological breakthrough?
Legend is an open source data management platform and has been in the making for a number of years within Goldman Sachs. We developed the platform because we’ve seen firsthand the struggle with data silos, duplication, and quality as the complexity of data accelerates dramatically. Legend offers a solution to rapidly growing data challenges by providing efficient and reliable access to accurate, timely, and safe data internally and within the industry. The heart of the platform is Legend Studio, our data modeling environment that allows users to code everyday language, connect disparate data sets, and display modeled data.
What was the driver to creating Legend?
We wanted to specifically tackle the historical divide between business and engineering by making Legend user-friendly and responsive to business terminology. This design allows everyone to be part of the data management process, resulting in more robust and well-rounded outcomes. This is truly a game-changer for non-engineers, who can now intuitively build data queries without knowing any SQL or programming languages. Internally at Goldman Sachs, we were thrilled to see Legend successfully used across teams to scale growth and operate more effectively. After witnessing these results for ourselves, we realized the far-reaching effect Legend could have upon the entire industry. We set out to open source our code with the end goal of elevating the entire financial ecosystem through standardization.
The full potential of Legend can only be achieved through collaboration. Standardization is impossible to achieve by our own effort alone and we’re relying on our peers to come together with us to build the data frameworks of the future. In the long run, we hope that the standards defined in Legend facilitate and streamline data exchanges across industry parties while also greatly reducing the risks that come with those kind of interactions – including our own.
What has been Legend’s impact on the financial industry?
Early on, we partnered with the non-profit FINOS to launch pilot working groups focusing on enhancements to the ISDA Common Domain Model (CDM), which is a blueprint for how derivatives are traded and managed across the trade lifecycle. Goldman Sachs, industry peers, and vendors used Legend to contribute to the CDM without actually writing a single line of code. This is the magic of Legend: it replaces complex code with an intuitive interface that transparently displays and explains changes. Because everyone gets a seat at the table, independent of technological expertise, consensus building significantly accelerates. Just months after open sourcing Legend, we noticed a transformative shift in how industry participants collaborate and agree on trading standards through using the platform.
How did you discover your passion for technology and programming?
I was born and raised in France, where my interest in programming developed very young when my mom bought me a ZX81 computer instead of the Atari gaming console that I originally wanted. I was disappointed at first, but my mom’s decision actually opened a whole new world to me-- the world of programming! The ZX81 lets you program in Basic, and that’s the way I started my programming journey at age eight. At fourteen, I started programming demos on one of the first personal computers, the Amiga – in my view, the most awesome platform ever built. After building 3D engines in many architectures and on many CPUs, DSPs and GPUs, I became interested in meta programming and was inspired to one day build a meta programming platform. This type of programming is a core concept used in the Legend platform.
What do you see in the future for Legend?
With data evolving as an invaluable asset, Legend will continue playing a key role in democratizing access to data, elevating analytics, and facilitating interoperability across the industry. Because Legend’s innovative features can be integrated anywhere, Legend could be a launchpad to influence organizations around the world to harness the real power of data to provide deeper insights, faster innovation, smarter decision making, and scaled growth. Legend is paving the way for consensus-driven standards and governance, aiming to mitigate regulatory and financial risk through systematizing data exchanges and holistically benefitting the financial sector. I see many more standards being created that define how data is exchanged across the industry. Our partnership with FINOS and involvement in their Financial Objects Special Interest Group will continue positioning Legend as a strategic asset to produce these standards alongside our financial peers. A wider adoption of the platform, with even more players in the industry running Legend on their premises, will enable frictionless and safe exchanges of information.
See https://www.gs.com/disclaimer/global_email for important risk disclosures, conflicts of interest, and other terms and conditions relating to this blog and your reliance on information contained in it.
Solutions
Curated Data Security MasterData AnalyticsPlotTool ProPortfolio AnalyticsGS QuantTransaction BankingGS DAP®Liquidity Investing¹ Real-time data can be impacted by planned system maintenance, connectivity or availability issues stemming from related third-party service providers, or other intermittent or unplanned technology issues.
Transaction Banking services are offered by Goldman Sachs Bank USA ("GS Bank") and its affiliates. GS Bank is a New York State chartered bank, a member of the Federal Reserve System and a Member FDIC. For additional information, please see Bank Regulatory Information.
² Source: Goldman Sachs Asset Management, as of March 31, 2025.
Mosaic is a service mark of Goldman Sachs & Co. LLC. This service is made available in the United States by Goldman Sachs & Co. LLC and outside of the United States by Goldman Sachs International, or its local affiliates in accordance with applicable law and regulations. Goldman Sachs International and Goldman Sachs & Co. LLC are the distributors of the Goldman Sachs Funds. Depending upon the jurisdiction in which you are located, transactions in non-Goldman Sachs money market funds are affected by either Goldman Sachs & Co. LLC, a member of FINRA, SIPC and NYSE, or Goldman Sachs International. For additional information contact your Goldman Sachs representative. Goldman Sachs & Co. LLC, Goldman Sachs International, Goldman Sachs Liquidity Solutions, Goldman Sachs Asset Management, L.P., and the Goldman Sachs funds available through Goldman Sachs Liquidity Solutions and other affiliated entities, are under the common control of the Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is a registered U.S. broker-dealer and futures commission merchant, and is subject to regulatory capital requirements including those imposed by the SEC, the U.S. Commodity Futures Trading Commission (CFTC), the Chicago Mercantile Exchange, the Financial Industry Regulatory Authority, Inc. and the National Futures Association.
FOR INSTITUTIONAL USE ONLY - NOT FOR USE AND/OR DISTRIBUTION TO RETAIL AND THE GENERAL PUBLIC.
This material is for informational purposes only. It is not an offer or solicitation to buy or sell any securities.
THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO. Prospective investors should inform themselves as to any applicable legal requirements and taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant. This material is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client's account should or would be handled, as appropriate investment strategies depend upon the client's investment objectives.
United Kingdom: In the United Kingdom, this material is a financial promotion and has been approved by Goldman Sachs Asset Management International, which is authorized and regulated in the United Kingdom by the Financial Conduct Authority.
European Economic Area (EEA): This marketing communication is disseminated by Goldman Sachs Asset Management B.V., including through its branches ("GSAM BV"). GSAM BV is authorised and regulated by the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, Vijzelgracht 50, 1017 HS Amsterdam, The Netherlands) as an alternative investment fund manager ("AIFM") as well as a manager of undertakings for collective investment in transferable securities ("UCITS"). Under its licence as an AIFM, the Manager is authorized to provide the investment services of (i) reception and transmission of orders in financial instruments; (ii) portfolio management; and (iii) investment advice. Under its licence as a manager of UCITS, the Manager is authorized to provide the investment services of (i) portfolio management; and (ii) investment advice.
Information about investor rights and collective redress mechanisms are available on www.gsam.com/responsible-investing (section Policies & Governance). Capital is at risk. Any claims arising out of or in connection with the terms and conditions of this disclaimer are governed by Dutch law.
To the extent it relates to custody activities, this financial promotion is disseminated by Goldman Sachs Bank Europe SE ("GSBE"), including through its authorised branches. GSBE is a credit institution incorporated in Germany and, within the Single Supervisory Mechanism established between those Member States of the European Union whose official currency is the Euro, subject to direct prudential supervision by the European Central Bank (Sonnemannstrasse 20, 60314 Frankfurt am Main, Germany) and in other respects supervised by German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) (Graurheindorfer Straße 108, 53117 Bonn, Germany; website: www.bafin.de) and Deutsche Bundesbank (Hauptverwaltung Frankfurt, Taunusanlage 5, 60329 Frankfurt am Main, Germany).
Switzerland: For Qualified Investor use only - Not for distribution to general public. This is marketing material. This document is provided to you by Goldman Sachs Bank AG, Zürich. Any future contractual relationships will be entered into with affiliates of Goldman Sachs Bank AG, which are domiciled outside of Switzerland. We would like to remind you that foreign (Non-Swiss) legal and regulatory systems may not provide the same level of protection in relation to client confidentiality and data protection as offered to you by Swiss law.
Asia excluding Japan: Please note that neither Goldman Sachs Asset Management (Hong Kong) Limited ("GSAMHK") or Goldman Sachs Asset Management (Singapore) Pte. Ltd. (Company Number: 201329851H ) ("GSAMS") nor any other entities involved in the Goldman Sachs Asset Management business that provide this material and information maintain any licenses, authorizations or registrations in Asia (other than Japan), except that it conducts businesses (subject to applicable local regulations) in and from the following jurisdictions: Hong Kong, Singapore, India and China. This material has been issued for use in or from Hong Kong by Goldman Sachs Asset Management (Hong Kong) Limited and in or from Singapore by Goldman Sachs Asset Management (Singapore) Pte. Ltd. (Company Number: 201329851H).
Australia: This material is distributed by Goldman Sachs Asset Management Australia Pty Ltd ABN 41 006 099 681, AFSL 228948 (‘GSAMA’) and is intended for viewing only by wholesale clients for the purposes of section 761G of the Corporations Act 2001 (Cth). This document may not be distributed to retail clients in Australia (as that term is defined in the Corporations Act 2001 (Cth)) or to the general public. This document may not be reproduced or distributed to any person without the prior consent of GSAMA. To the extent that this document contains any statement which may be considered to be financial product advice in Australia under the Corporations Act 2001 (Cth), that advice is intended to be given to the intended recipient of this document only, being a wholesale client for the purposes of the Corporations Act 2001 (Cth). Any advice provided in this document is provided by either of the following entities. They are exempt from the requirement to hold an Australian financial services licence under the Corporations Act of Australia and therefore do not hold any Australian Financial Services Licences, and are regulated under their respective laws applicable to their jurisdictions, which differ from Australian laws. Any financial services given to any person by these entities by distributing this document in Australia are provided to such persons pursuant to the respective ASIC Class Orders and ASIC Instrument mentioned below.
- Goldman Sachs Asset Management, LP (GSAMLP), Goldman Sachs & Co. LLC (GSCo), pursuant ASIC Class Order 03/1100; regulated by the US Securities and Exchange Commission under US laws.
- Goldman Sachs Asset Management International (GSAMI), Goldman Sachs International (GSI), pursuant to ASIC Class Order 03/1099; regulated by the Financial Conduct Authority; GSI is also authorized by the Prudential Regulation Authority, and both entities are under UK laws.
- Goldman Sachs Asset Management (Singapore) Pte. Ltd. (GSAMS), pursuant to ASIC Class Order 03/1102; regulated by the Monetary Authority of Singapore under Singaporean laws
- Goldman Sachs Asset Management (Hong Kong) Limited (GSAMHK), pursuant to ASIC Class Order 03/1103 and Goldman Sachs (Asia) LLC (GSALLC), pursuant to ASIC Instrument 04/0250; regulated by the Securities and Futures Commission of Hong Kong under Hong Kong laws
No offer to acquire any interest in a fund or a financial product is being made to you in this document. If the interests or financial products do become available in the future, the offer may be arranged by GSAMA in accordance with section 911A(2)(b) of the Corporations Act. GSAMA holds Australian Financial Services Licence No. 228948. Any offer will only be made in circumstances where disclosure is not required under Part 6D.2 of the Corporations Act or a product disclosure statement is not required to be given under Part 7.9 of the Corporations Act (as relevant).
FOR DISTRIBUTION ONLY TO FINANCIAL INSTITUTIONS, FINANCIAL SERVICES LICENSEES AND THEIR ADVISERS. NOT FOR VIEWING BY RETAIL CLIENTS OR MEMBERS OF THE GENERAL PUBLIC
Canada: This presentation has been communicated in Canada by GSAM LP, which is registered as a portfolio manager under securities legislation in all provinces of Canada and as a commodity trading manager under the commodity futures legislation of Ontario and as a derivatives adviser under the derivatives legislation of Quebec. GSAM LP is not registered to provide investment advisory or portfolio management services in respect of exchange-traded futures or options contracts in Manitoba and is not offering to provide such investment advisory or portfolio management services in Manitoba by delivery of this material.
Japan: This material has been issued or approved in Japan for the use of professional investors defined in Article 2 paragraph (31) of the Financial Instruments and Exchange Law ("FIEL"). Also, any description regarding investment strategies on or funds as collective investment scheme under Article 2 paragraph (2) item 5 or item 6 of FIEL has been approved only for Qualified Institutional Investors defined in Article 10 of Cabinet Office Ordinance of Definitions under Article 2 of FIEL.
Interest Rate Benchmark Transition Risks: This transaction may require payments or calculations to be made by reference to a benchmark rate ("Benchmark"), which will likely soon stop being published and be replaced by an alternative rate, or will be subject to substantial reform. These changes could have unpredictable and material consequences to the value, price, cost and/or performance of this transaction in the future and create material economic mismatches if you are using this transaction for hedging or similar purposes. Goldman Sachs may also have rights to exercise discretion to determine a replacement rate for the Benchmark for this transaction, including any price or other adjustments to account for differences between the replacement rate and the Benchmark, and the replacement rate and any adjustments we select may be inconsistent with, or contrary to, your interests or positions. Other material risks related to Benchmark reform can be found at https://www.gs.com/interest-rate-benchmark-transition-notice. Goldman Sachs cannot provide any assurances as to the materialization, consequences, or likely costs or expenses associated with any of the changes or risks arising from Benchmark reform, though they may be material. You are encouraged to seek independent legal, financial, tax, accounting, regulatory, or other appropriate advice on how changes to the Benchmark could impact this transaction.
Confidentiality: No part of this material may, without GSAM's prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.
GSAM Services Private Limited (formerly Goldman Sachs Asset Management (India) Private Limited) acts as the Investment Advisor, providing non-binding non-discretionary investment advice to dedicated offshore mandates, involving Indian and overseas securities, managed by GSAM entities based outside India. Members of the India team do not participate in the investment decision making process.