Deutsche Bank Hires Execs in Tech, Ops

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Deutsche Bank has hired two executives to oversee technology and operations.

Richard Shannon has been appointed chief information officer and co-head of group technology and operations for the Americas, while Scott Marcar will be head of IT Infrastructure, the company said in a press release Monday.

The announcement follows the appointment of Michael Grimaldi as chief information officer of the bank's corporate banking and securities and global transaction banking business divisions in September. The new hires are intended "to further strengthen" the bank's technology and operations team, according to the release.

Shannon and Marcar will report to Kim Hammonds, global CIO and global co-head of group technology and operations. Grimaldi and Marcar are technology leaders whose skills and experience "will prove invaluable as the bank continues to enhance its IT platform while strengthening controls," Hammonds said.

Both executives will join Deutsche in October.

As Americas CIO, Shannon will support 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. Prior to joining Deutsche, Shannon spent 20 years at Goldman Sachs. He will be based in New York.

As head of information technology infrastructure, Marcar will focus on improving security and cost efficiency. He previously spent seven years at Royal Bank of Scotland and also worked for JPMorgan Chase. Marcar will be based in London.

Deutsche has also announced plans to hire 500 employees in the U.S. who will join its systems and controls team. "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.

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