snapshot of notable global financial services operations ... overseeing operations and technology,...

Snapshot of notable global financial

services Operations and Technology

moves, appointments, themes and

trends

“Hiring has

been a

major focus

at the CIO-1

and CIO-2

levels.”

January 2016 - April 2016

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

Significant organisational change has

been a feature within COO functions in

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

Leathwaite: London | Zürich | Hong Kong | New York

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Summary of key themes and trends Jan - Apr 2016

Operations and Technology Themes

Page 1/6

Next update due: 19/9/2016

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Global Banking Groups

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.

Key global people moves and appointments:

Operations and Technology Moves

Page 2/6






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.


Page 3/6






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.


Page 4/6






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.


Page 5/6






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

Key interim themes and trends Jan - Apr 2016

How can

Leathwaite assist?

With a global network of offices that are

constantly communicating with the

Operations and Tech market, Leathwaite

is perfectly positioned to advise clients

on the future demand cycle for talent.

London: +44 207 151 5151

Zürich: +41 44 214 6640

Hong Kong: +852 3152 2463

New York: +1 646 461 9100

For a discussion on how the talent

landscape is changing within this sector,

please call your regional Leathwaite

office.

www.leathwaite.com

Operations and Technology Interim

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