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Deutsche Bank Strengthens its Technology and Operations Leadership

  • Richard Shannon appointed as Americas Chief Information Officer (CIO) and Co-Head of Group Technology & Operations (GTO) Americas
  • Scott Marcar appointed as Head of IT Infrastructure

Deutsche Bank today announced two senior appointments to further strengthen its leadership team in technology and operations.

Richard Shannon will join in October as Americas CIO, supporting the Bank’s compliance and regulatory technology initiatives. Shannon will also hold the role of Co-Head of GTO Americas along with Scott Simon, who is currently Regional Head of GTO Americas.

Shannon joins Deutsche Bank after 20 years with Goldman Sachs, where he most recently held the position of Global Head of Web Platforms Technology. He will be based in New York.

"Over the next year, our local management team will be very focused on building our capabilities across all critical infrastructure areas to best support our growing U.S. franchise," said Jacques Brand, Chief Executive Officer, Deutsche Bank North America. "Richard's appointment comes at an important time and I am confident he will complement our existing leadership team."

As previously announced, Deutsche Bank is hiring 500 employees in the U.S. as part of a group of 1,300 people dedicated to ensuring that its systems and controls are best in class.

Scott Marcar will also join in October as Head of Information Technology Infrastructure, responsible for designing, operating and modernising the Bank’s infrastructure to drive greater security, stability and cost efficiency.

Marcar joins Deutsche Bank after seven years with Royal Bank of Scotland, where he most recently held the position of Chief Information Officer, Corporate and Institutional Banking. He previously held senior technology positions at JPMorgan Chase. Marcar will be based in London.

Both Shannon and Marcar will report to Kim Hammonds, Global CIO and Global Co-Head of GTO.

"Richard and Scott are strong technology leaders who will add to our deep bench of technical expertise," Hammonds said. "Their skills and experience will prove invaluable as the Bank continues to enhance its IT platform while strengthening controls."

The appointments follow the recent hire of Michael Grimaldi, who joins as CIO of Corporate Banking & Securities and Global Transaction Banking business divisions in September.