The Securities and Exchange Commission today announced that Thomas A. Bayer has been appointed as the SEC's new Chief Information Officer (CIO) and will oversee the agency's information technology functions.
Mr. Bayer comes to the SEC from Maris Technology Advisors in Leesburg, Va., where he advised banking and financial services clients on technology strategy, software development, and program management solutions. In his new role directing daily operations in the SEC's Office of Information Technology (OIT), Mr. Bayer will oversee applications development, maintenance, infrastructure, and user support for the agency. He will report to Jeff Heslop, who was named the agency's first-ever Chief Operating Officer earlier this year.
The SEC is in the process of revamping its technology systems for reviewing tips, complaints, and investigative leads and referrals provided by whistleblowers or other sources. The agency also is undertaking various technology initiatives to provide the infrastructure and software necessary to implement various regulatory requirements under the Dodd-Frank Act.
"Tom possesses the wide-ranging experience and technology strategy necessary to effectively manage our OIT operations as the agency continues to meet new challenges and develop new technology solutions," said Mr. Heslop. "Tom can provide expert leadership as we continue to vastly improve our technology for receiving thousands of tips, complaints and referrals from the public. He will spearhead our continuing transition from a disclosure system that's document-based to a system that's data-based and more useful for investors."
Mr. Bayer added, "The SEC plays a critical role in our government and our nation's economy, and I'm pleased to join an agency where technology is of ever-increasing importance as we serve the financial markets and the investing public."
The SEC's Office of Information Technology works with the Chairman, Commissioners, and the agency's divisions and offices to incorporate technology into all SEC programs to serve investors, maintain orderly markets, and promote capital formation. OIT operates the EDGAR system, which provides investors with access to more than 7 million public company financial statements and other filings.
Among Mr. Bayer's other private sector positions prior to his consulting experience at Maris Technology Advisors, he was Vice President, Head of Software Development at GSI Commerce in King of Prussia, Pa., from 2007 to 2008, and he was Vice President, Business Information Officer at CapitalOne Financial in McLean, Va., from 2002 to 2007. He also worked nearly five years at Citicorp and Citigroup in New York in various leadership positions involving global technology infrastructure and network services, and spent more than eight years at Sprint Corporation where he held several product management and product development roles with increasing responsibility and technical diversity.
Mr. Bayer earned his bachelor's degree from The Ohio State University with a major in finance and economics and a minor in accounting.