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Paul Penrose

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Paul Penrose - Finextra

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An interview with Merrill Lynch's Diane Shueneman

02 July 2007  |  3377 views  |  0

The McKinsey Quarterly has bagged an interview with Diane Schueneman, the head of Merrill Lynch's Global Infrastructure Solutions unit. The new division combines the firm's IT and operations arms.

Schueneman explains how this integration has led the company to set new and ambitious goals for its combined operations and IT units and how it is building the capabilities to achieve these goals.

The three-year plans calls for a radical shift in budget priorities, with plans to spend 70% on new development and 30% on maintenance. The second goal is to substantially increase straight-through processing to 99% of commoditised, high-volume transactions.

These are ambitious objectives. You can read the full interview here.

TagsPost-trade & opsWholesale banking

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