Bankers Trust New York Co. has lured a key technology executive from Canadian Imperial Bank of Commerce to take on the role of chief information officer.
David Marshall will join the bank Oct. 15 and will be responsible for technology infrastructure and for operations in the investment banking, trading and sales, and risk management units. He succeeds Carmine Vona, who retired in June.
Mr. Marshall also will be a member of the management committee and managing director of the bank's principal subsidiary, reporting to Frank Newman, chairman and chief executive officer.
Mr. Marshall, who declined to comment on his new position, had been with Toronto-based Canadian Imperial as executive vice president and chief information officer since June 1995.
Before that, he spent two years as a group executive at Unitel Communications Inc., the Toronto-based arm of AT&T. From 1977 to 1993, he held various technology posts in the Canadian government.
Bankers Trust recruited Mr. Marshall for several months, bank insiders say.
At Canadian Imperial, he led technology infrastructure projects and acted as adviser to the chairman and other executives on new business initiatives and the impact of new technologies.
Canadian Imperial and Bank of Nova Scotia recently entered into an agreement to set up a new company to run back-office functions. It is unclear whether that move prompted Mr. Marshall's departure.
Mr. Vona will serve as a consultant on technology projects for the bank's global assets unit, reporting to Mr. Marshall. Lee Barba, head of financial services technology and operations, and Sholom Bryski, head of bankwide technology infrastructure services, also will report to Mr. Marshall.