Deutsche Bank hires Goldman and RBS IT execs
19 August 2014 | 7802 views | 0
Deutsche Bank has raided Goldman Sachs and Royal Bank of Scotland to bring in two senior technology and operations executives.
The German bank has named Richard Shannon Americas CIO and co-head of Group Technology and Operations (GTO), Americas. Scott Marcar also joins as head of IT infrastructure.
Shannon arrives in October after 20 years with Goldman Sachs, where he most recently held the position of global head of web platforms technology.
Based in New York, he will support compliance and regulatory technology initiatives. With US regulators breathing down its neck, the bank has already outlined plans to hire 500 employees as part of a group of 1,300 people "dedicated to ensuring that its systems and controls are best in class".
Shannon is the second senior IT man to leave Goldman for Deutsche in a matter of months, following Michael Grimaldi, who joins as CIO of corporate banking and securities and global transaction banking business divisions in September.
Meanwhile, Scott Marcar will also arrive in October as head of IT infrastructure, responsible for designing, operating and modernising the bank's infrastructure to boost security, stability and cost efficiency.
After a stint at JPMorgan Chase, he has spent the last seven years with RBS, most recently as CIO, corporate and institutional banking.
Both men will report to global CIO and global co-head of GTO, Kim Hammonds, who herself joined the bank last November.
Says Hammonds: "Richard and Scott are strong technology leaders who will add to our deep bench of technical expertise. Their skills and experience will prove invaluable as the Bank continues to enhance its IT platform while strengthening controls."