Management Strategies

10:36 AM
Connect Directly
RSS
E-Mail
50%
50%

Hewlett-Packard Taps Financial Technology Leadership

Hewlett-Packard has selected a new CEO from the world of financial technology.

Hewlett-Packard (Palo Alto, Calif.) has selected a new CEO from the world of financial technology. HP's new president and CEO, Mark Hurd, was formerly president and CEO of NCR (Dayton, Ohio), a global provider of ATMs, retail systems, data warehouses and IT services.

Even though NCR (2004 revenues: $6 billion) is a much smaller company than HP (2004 revenues: $82 billion), the two share characteristics in terms of organizational structure, global footprint and history. "There's quite a bit of overlap and commonality," notes John Wallace, vice president and managing director, global financial services industry, HP. "Both companies are continuously working to best serve global customers."

There are also strong parallels from the standpoint of corporate culture. "I came from a company that was founded in 1884 -- this one was founded in 1938," observed Hurd, speaking at a press conference. "Companies that have that much history have tremendous assets in that legacy."

Hurd intends to focus on improving operations, creating demand for HP technology and driving profitable growth. Given his background, it is reasonable to expect that the financial services market will receive a healthy share of top management attention. "[Financial services] is a very important industry and set of customers, and it presents numerous opportunities for growth going forward," says Wallace.

"Certainly I view it as a positive, and I would expect that many of HP's financial services customers would be encouraged that the new CEO is someone that has extensive experience in our industry," Wallace adds.

HP's recent customer wins in financial services include contracts with WestLB AG, TD Bank Financial Group, Bank of India, Helvetia Patria, China Development Bank and ING Direct.

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Dec. 2, 2014
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.