Standard Chartered has appointed former aerospace engineer Michael Gorriz as group chief information officer.
Gorriz will join the bank in the third quarter of 2015 and will be based in Singapore, reporting directly to incoming group chief executive, Bill Winters .
A physicist and engineer by background, Gorriz arrives from Daimler, where as VP and CIO he was responsible for strategy, planning and development of all IT systems, as well as the operation of all data centres and communication networks at the group.
Having issued three profit warnings last year, Standard Chartered is in the midst of a major shakeup designed to save $400 million in 2015.
It has already axed 2000 retail jobs in recent months, and has now set itself the target of cutting another 2000 and closing up to 100 branches as it encourages customers to go digital, saving up to $200 million.
Gorriz is replacing former group CIO Jan Verplancke, who is retiring after 11 years of service.
His arrival coincides with the recent appointment of Bill Winters, a former head of JPMorgan's investment bank, who is set to replace Peter Sands as chief executive of Standard Chartered later this year.