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Key themes and trends:

  • Whether motivated by the appetite to transform technology to drive revenue or to address cost pressures and improve efficiency, technology hiring continues to be topical
  • Following a particularly active 2015, with a high number of global CIO appointments across a variety of financial services businesses, hiring has been a major focus at the CIO-1 and CIO-2 levels
  • The profile of technology leaders in high demand across the financial services sector continues to be focused on those with a demonstrable ability to significantly transform the core technology as well as create highly capable technology organisations that drive the adoption of new technologies and delivery methods. These continue to be areas of challenge when identifying, attracting and integrating senior individuals across divisions such as information / cyber security and data analytics
  • Large-scale organisational change has been a feature within COO functions at the major banks, a theme which is set to continue through the remainder of 2016. An underlying dynamic behind these structural changes has been whether organisations adopt a group COO structure or whether they use a federated model, with a COO structure supporting each business. There has been regular change in how banks have been organised in this regard and a lack of consistency in the market on what may represent best practice
  • The emergence of market utilities continues apace. This includes the long-standing practice of asset management firms outsourcing operational support to custodians but also the continued growth of organisations aiming to provide services such as kyc/onboarding, collateral management, settlement and clearing services to both the buy and sell side. This development has prompted an increasing number of senior operations professionals to move into the market utility sector

Key moves:

Banking

  • Paul Compton is appointed as Group COO at Barclays, overseeing operations and technology, structural reform, cost transformation and major project delivery.
  • Chris Perretta joins MUFG Americas Holdings Corporation as Chief Information and Operations Officer for the Americas, from State Street, where he had been CIO.
  • Kirsty Roth joins HSBC as global head of operations. She was previously with Credit Suisse as COO for finance, operations and technology.
  • Justin Moffitt is appointed as CIO of Macquarie, relocating from Singapore where he was APAC investment banking CIO.
  • Mike Healy joins Citi as Investor Services CIO.
  • Anand Kulkarni joins Bank of Montreal as CIO for Capital Markets, Enterprise Risk and Portfolio Management from RBC where he had been Global Head of FICC IT.
  • Jennifer Sepull joins USAA as CIO from Kimberly-Clark.
  • Julien Pequegnot joins Bank of America as a CTO within Risk IT, from Nomura, where he ran global credit IT.
  • Jeremy Pattman returns to Standard Chartered, as Global Head of Flow Technology. Previously he was Head of Murex for UBS.
  • Bobby Mukundan joins JPMorgan to run Global Technology Infrastructure Strategy and Core Services, from Citi.
  • Simon Tasker joins Credit Suisse as UK Head of Strategic Change, from Deloitte, where he was Head of Capital Markets Technology Division.
  • Ian Sayers is appointed by Danske Bank as Head of Architecture from ZAPP, a mobile payments business, where he had been CTO.
  • Tristan Knight joins Citi as Global Head of Delta One IT, from Credit Suisse where he had formerly been Co-Head of Equities IT.
  • Michaux Raine joins JPMorgan as CTO, Merchant and Payments Technology. He was formerly the CIO for USAA Bank.
  • Phanikumar Uppuluri joins Bank of America, from Citi, to run aspects of Quartz.
  • Rene Keller joins Deutsche Bank as Private, Wealth & Commercial Clients CIO, from Deutsche Boerse.
  • Vinay Jha join Fifth Third Bank as Chief Data Officer, from GE, where he had been Managing Director – Enterprise Data Management.
  • Ali Hosseinian joins Lloyds Banking Group as Group IT Director – Enterprise Architecture from TD Bank.
  • Ron Pyke joins HSBC as Global Head of FX IT; he was formerly EMEA Global Markets CIO at Nomura.
  • Katarina Rosboch returns to Standard Chartered as Global Head of Securities Services Information Technology and Operations. She was previously APAC Head of Integrated Middle Office in UBS.
  • Nick Harris joins Credit Suisse from UBS, where he had been running Cash Equities IT Account Management, as CTO of the systematic market making group.
  • Jacqueline Guichelaar joins Lloyds Banking Group as Head of Infrastructure & Service Delivery Investment Management & Hedge Funds.
  • Maria Azua joins Fidelity as SVP, Distributed Hosting Services, from Barclays.
  • Phil Karp, previously Global Head of Enterprise Tech at Wellington Management, joins Bridgewater as Global Head of Infrastructure Technology.
  • Frank LaQuinta joins Edward Jones as CIO. LaQuinta previously ran group IT delivery for UBS.
  • Cyril Reol, former Glencore CIO, joins Man Group as Deputy-CTO.

COO

  • Phillip Bungey is appointed as Chief Operating Officer for Seven Investment Management; he was formerly in the same role at Nutmeg.
  • Paul Simpson becomes Global Banking and Markets Operations Executive at Bank of America. Bill Pappas, who was previously responsible for markets operations becomes Head of Operations for retail, wealth, investment management and global delivery services.
  • Andrew Butcher joins Bank of America as the European Head of Operations and Technology. He will report into Paul Simpson and Alex Wilmott-Sitwell the President of Europe.
  • David Kay has joined Bank of America in London as Global Derivatives and FX Operations Executive. He will report into Paul Simpson and Andrew Butcher.
  • Peter Wharton Hood is appointed Head of Operations at Deutsche Bank. Prior to Deutsche Bank he was with Standard Bank as Group Deputy CEO.
  • Matthew Norris is hired by Millennium as European Head of Operations and Middle Office. He was previously with Nomura.
  • Chris Gelvin becomes COO to Group COO UBS Axel Lehmann, which is an internal move and Harry Egger is promoted to lead the Corporate Services division, where previously he was COO within it.
  • Piers Murray is appointed COO to BNY Mellon’s markets business. He was previously an MD at Deutsche Bank, co-leading listed derivatives and markets clearing.
  • Lori Hardwick joins BNY Mellon’s Pershing as COO, succeeding from COO Lisa Dolly who has been promoted to CEO. Lori was previously President, Advisory Services at Envestnet.

Insurance

  • Mark Bloom joins AEGON as Global Chief Technology Officer.
  • Simon Williams joins Aviva as its Fusion Transformation Director, previously he was Head of Transformation for LBIA.
  • Fin Goulding joins Aviva as Ireland CIO, previously Goulding was CIO of Paddy Power.
  • Wes Hunt joins MetLife as Chief Data Officer from Nationwide.
  • Markus Dolenga, COO for Marsh & McLennan Asia, joins Jardine Lloyds Thompson as COO Asia.
  • Gillian Tomlinson joins RSA as the Chief Data Officer. She previously held this role at Whitbread.

FinTech

  • Donal Fleming joins Credit Benchmark as CTO, from BlueCrest Capital.
  • Gordon Weir joins Digital Asset Holdings as Head of Development, from Bank of America, where he had been the Head of Operations IT Agile Development.
  • Marcus Treacher is appointed by Ripple as Global Head of Strategic Accounts. He was formerly Global Head of Innovation for Payments at HSBC.
  • Adam Furgal joins R3 CEV from Barclays where he was Chief Agilist for Personal and Corporate Banking at Barclays.
  • Mustafa Al Bassam joins Secure Trading as a Security Advisor on the company’s technology and services.

Market Utilities

  • Krishna Nathan joins S&P Global as CIO, from IBM.
  • Michael Henson joins LCH Clearnet as Head of SwapClear and Head of Listed Rates Technology & Operations. Formerly Michael had been a Managing Director with Standard Chartered Bank.
  • Mike Payne, former JPMorgan Managing Director, joins Lombard Risk Management as CTO.

CISO / IT Risk

  • Cheri McGuire, formerly of Symantec, is named CISO of Standard Chartered Bank.
  • Royal Hansen is appointed American Express CISO, joining from Goldman Sachs.
  • Douglas DeGrote joins Allianz Life as CISO.
  • Anthony Johnson, former CISO of Fannie Mae, joins JPMorgan.
  • George Stathakopoulos joins Apple from Amazon, where he had been Vice President of Information Security.
  • Andrew Turner joins Vantiv as Chief Security Officer. He was previously the SVP of Cyber Security for Visa.
  • Edward Neman joins Digital Asset Holdings in from Goldman Sachs as the Deputy Chief Security Officer based in New York.

Non-Financial Services

  • Rahul Samant joins Delta as CIO, from AIG where he was previously Chief Digital Officer.
  • Howard Mansell, former BlueMountain Capital Management Head of Core Strategies, joins Facebook as an Engineering Manager.
  • Phil Newmoyer is named Toys “R” Us CIO. Newmoyer joins from Tech Impact.
  • Anna Barsby is appointed as Chief Technology Officer at Morrisons. She was previously Halfords CIO.
  • Darren Ghanayem joins WellCare Health Plans Inc. as CIO. Ghanayem comes from rival health insurer Anthem, where he had been Vice President of Business Transformation.
  • Kumar Srnivasan joins Nordstrom as CTO from Evocalize, a business he co-founded and of which he was CEO.

Key interim themes and trends:

  • The interim market has seen slow growth in the first quarter of the year within the Investment Banking sector. Firms such as Barclays, Credit Suisse and HSBC have all cut a number of interims due to cost pressures
  • The regulatory market continues to dominate interim needs with ring fencing and MiFID II being the most prevalent requirements. MiFID II is expected to remain in demand through the second half of 2016 and into 2017 as banks gear up to deliver in early 2018
  • There has been increased demand for interims with a background in function management as well as change delivery. This has particularly been the case in the corporate functions space (Finance, Risk, Compliance et al)
  • We have seen increased demand from insurance and retail Banking clients for an interim solution to help define roles which had not previously existed within the structure of the organisation. This is specifically so within customer data and digital
  • Insurers are focused on becoming more customer driven and we are starting to see interim talent being hired from out of the industry to give them a competitive advantage

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