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Deutsche Bank Hires New Senior Tech Leaders

The bank has hired two senior tech leaders away from Goldman Sachs and RBS as it seeks to add 500 new employees to support technology and operations.

Deutsche Bank announced the addition of two new senior technology executives yesterday as it looks to expand its technology and operations workforce in the US. Richard Shannon will join the bank in October as Americas CIO and co-head of GTO Americas after 20 years with Goldman Sachs, where he most recently served as the global head of Web Platforms Technology.

Shannon will be based in New York and will work to support Deutsche Bank’s ongoing compliance and regulatory projects, according to a statement released by the bank.

[For more of our recent coverage of Deutsche Bank, check out: Bank of China NY Signs On To Deutsche Bank’s Cross-Border Clearing Service.]

Scott Marcar will also join the technology team in October as head of information technology infrastructure. He will be responsible for the modernization of the bank’s infrastructure for security, stability, and efficiency. Marcar most recently served as the CIO of corporate and institutional banking for Royal Bank of Scotland; he previously held leadership positions at J.P. Morgan Chase.

The hiring of Shannon and Marcar follows the recent addition of Michael Grimaldi, the new CIO of the corporate banking and securities and global transaction banking divisions. These new leadership appointments coincide with the bank’s previously announced efforts to expand its technology and operations workforce with 500 new hires to work on its systems and controls, according to the bank’s statement.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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User Rank: Author
8/26/2014 | 3:00:57 PM
Re: The compliance burden
There was a reference in the bank's original announcement that the new staff hriings would be dealing with monitoring  systems and controls, which definitely indicates that there will be a compliance and risk focus there.
Greg MacSweeney
Greg MacSweeney,
User Rank: Author
8/26/2014 | 6:41:20 AM
The compliance burden
It is interesting that Shannon is coming on board to head up compliance and regulatory projects. This is in addition to the news that Deutsche Bank is adding 500 new technology workers to primarily handle compliance and reporting technology. With the IT hiring that has been happening across the industry, I wonder how many of the new hires have been brought on just to support compliance/regulatory projects?
User Rank: Apprentice
8/20/2014 | 1:37:55 AM
J.P Morgan Chase
Marcar most recently served as the CIO of corporate and institutional banking for Royal Bank of Scotland; he previously held leadership positions at J.P. Morgan Chase. operational risk management can be vary
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