GEM shifted to 90 percent internal software development in one year
Matt Bank · AI in the Investment Office – Abby Barlow, Laura Hill, Brian Sugrue, Jenny Heller, John Lawrence, Matt Bank, Kristin Kallergis Rowland, Jon Webster (EP.515) · Sep 14, 2026 · at 44:01
Matt Bank is CIO of $14 billion OCIO Global Endowment Management (GEM). He discusses how cheaper AI-assisted software development shifted GEM's technology strategy from third-party vendor products to internal builds.
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“However, if you rewind the calendar a year, about 90% of our spend and our tool set was externally developed. We were buying off the shelf things, trying to integrate them. Today, that has flipped. 90% of the things we're developing are internal.”
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