Within the financial sector, Operating Committees typically consist of the 10-15 most senior leaders in a firm; executives including CEO / President, divisional business heads, CFO, General Counsel and Head of HR. Traditionally the Head of Technology was one or even two levels removed from Operating Committee membership.

This is changing.

Since 2017, six of the top 30 US financial institutions by assets have appointed their CIO to their Operating Committee or equivalent, meaning for the first time more than half (53%) of these companies have given their CIO a seat at the top table. JPMorgan Chase, Morgan Stanley and Wells Fargo have all added their CIO to the Operating Committee during this period.

Of the remaining 14 organizations, seven combine technology with other functions (operations, shared services) under one Operating Committee member (Bank of America and Citi are the biggest examples with this model in place).

Only seven of the top 30 have no technology representation at all on their Operating Committee and of these, three are US entities of larger international organizations (HSBC, BMO, Santander).

Goldman Sachs, USAA, State Farm and Regions Bank are the outliers as the only US headquartered top 30 financial institutions with no CIO or Head of Shared Services on their Operating Committee.

Use the infographic below to explore how technology is represented in the leadership of the top 30 financial institutions.

The buttons allow you to filter companies by whether their Operating Committees include their CIO, Head of Tech & Ops or neither. Companies who have recently elevated their CIO to the Operating Committee are also featured separately.

Click on a company logo to view that company’s status and links (where available) to their Operating Committee pages.

  • JPMorgan Chase & Co.

    On her promotion to Global CIO in 2017, Lori Beer was also appointed to JPMorgan Chase’s Operating Committee. Previous CIOs at JPMorgan were up to two levels removed from Operating Committee membership

  • Bank of America

    Chief Operations & Technology Officer Cathy Bessant is a member of Bank of America’s Executive Leadership Committee

  • Citigroup

    Citigroup’s Head of Enterprise Operations & Technology, Mike Whitaker, is a member of the Operating Committee

  • Wells Fargo

    In 2018 Wells Fargo announced it had created a new role titled Head of Technology which would lead development, infrastructure and security (previously run as separate functions) and would sit on the firm’s Operating Committee. Saul van Beurden was appointed to this role in 2019

  • Goldman Sachs

    Co-CIO’s Elisha Wiesel and George Lee are not members of Goldman Sachs’ Operating Committee

  • Morgan Stanley

    In 2018 Morgan Stanley appointed former business head Rob Rooney to the newly created role of Head of Technology. Unlike previous CIOs, Rooney is a member of Morgan Stanley’s Operating Committee

  • US Bancorp

    Vice Chairman, Technology & Operations Services Jeffry von Gillern is a member of US Bank’s Operating Committee

  • TD Bank NA

    TD Bank’s CIO, Janice Withers, sits on the firm’s Operating Committee

  • PNC Financial Services

    Head of Technology & Innovation, Steve Van Wyk, sits on the firm’s Operating Committee

  • Capital One

    Capital One’s CIO, Rob Alexander, is a member of the firm’s Operating Committee

  • The Bank of New York Mellon

    BNY Mellon’s CIO, Bridget Engle, is a member of the firm’s Operating Committee

  • TIAA

    Rahul Merchant, Head of Client Services and Technology is a member of TIAA’s Operating Committee

  • HSBC Bank USA

    HSBC Bank USA’s CIO, Ann Madea, is not a member of the US Operating Committee. Global CIO Darryl West is not a member of the firmwide Operating Committee

  • Charles Schwab Corporation

    Charles Schwab is unique in having two technologists on its Operating Committee – CIO Dennis Howard and CTO Tim Heier are both members

  • State Street Corporation

    State Street CIO Antoine Shagoury sits on the firm’s Operating Committee

  • BB&T

    BB&T’s CIO Barbara Duck is a member of the firm’s Operating Committee

  • SunTrust Banks

    On joining the firm in 2018, CIO of SunTrust Scott Case was appointed to the company’s Operating Committee

  • American Express

    CIO Marc Gordon is a member of American Express’ Operating Committee

  • Ally Financial

    CIO Michael Baresich is a member of Ally’s Operating Committee

  • State Farm

    State Farm’s CIO Mark Oakley is not a member of the Operating Committee. There is no representation of Technology or Operations / Shared Services on the Operating Committee

  • MUFG Union Bank

    Chief Information & Operations Officer Chris Higgins is a member of MUFG’s Operating Committee

  • USAA

    Recently appointed CIO Mike Brady is a not a member of USAA’s Operating Committee

  • Citizens Financial Group

    On his appointment to the CIO role in 2019, Mike Ruttledge was also appointment to Citizens’ Operating Committee

  • BMO Harris Bank

    US Chief Technology & Operations Officer and Global Head, Product Operations, Kin Liprot is a member of BMO Harris’ Operating Committee

  • Fifth Third Bank

    On his appointment to the CIO role at Fifth Third in 2018, Jude Schramm was appointed to the firm’s Operating Committee

  • KeyCorp

    CIO and Head of Operations Amy Brady is a member of Keycorp’s Operating Committee

  • M&T Bank

    Chief Technology & Operations Officer Michelle Trolli is a member of M&T Bank’s Operating Committee

  • Northern Trust

    CIO Tom South is a member of Northern Trust’s Operating Committee

  • Regions Bank

    CIO Amala Duggirala is not a member of Regions Bank’s Operating Committee

  • Santander Bank

    US CIO Dan Griffiths is not a member of Santander’s Operating Committee

Simon Mayo

Simon Mayo is a Consultant in the Americas Technology Officers Practice based in New York. A search professional with 10 years’ global experience, he delivers executive search and executive interim projects for Technology leadership across North America. His client coverage includes global, national and regional banks, insurers, hedge funds and asset and wealth managers. His track record and functional expertise encompasses CIO/CTOs, Heads of Application Development, Engineering and Infrastructure, CISOs, Chief Data Officers and Heads of Digital.

Simon joined Leathwaite in 2012, spending two years in London before relocating to the US in 2014. In New York, he set up and led Leathwaite’s Americas Executive Interim business, placing senior technologists into short-term roles in the financial sector.