Probably right, just poorly worded. It's not just engineers, it's all staff in tech. Most of them will have a CS degree (or similar). Nearly none of them will d

Probably right, just poorly worded. It's not just engineers, it's all staff in tech. Most of them will have a CS degree (or similar). Nearly none of them will develop trading algorithms. It's mostly about maintaining systems, fixing problems, updating regulatory changes, integrating third party data, etc. Having a third of headcount in tech is not unusual for a bank nowadays.