Deutsche Bank Appoints Two Technology and Operations Executives

Deutsche Bank has hired two executives that will join the bank in October as part of its expansion in technology and operations.

One hire, Richard Shannon, will join as Americas cheif information officer, supporting Deutsche Bank’s compliance and regulatory technology initiatives. He will also hold the role of co-head of GTO (Group Technology & Operations) Americas along with Scott Simon, who currently serves as regional head of GTO Americas.

Another hire, Scott Marcar, will serve as head of information technology infrastructure, responsible for designing, operating and modernizing the bank’s infrastructure to achieve greater security and cost efficiency. He joins from RBS, where he spent seven years, most recently as chief information officer, Corporate and Institutional Banking. Previously, he also held senior technology positions at J.P. Morgan. Marcar will be based in London.

Both of the new hires 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,” says Hammonds. “Their skills and experience will prove invaluable as the Bank continues to enhance its IT platform while strengthening controls.”

Deutsche Bank says it is also hiring 500 employees in the U.S. as part of a group of 1,300 people focused on systems and controls.

“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,” says Jacques Brand, chief executive officer, Deutsche Bank North America.

Recently, the bank also hired Michael Grimaldi, who will start in September as CIO of the Corporate Banking & Securities and Global Transaction Banking divisions.

Grimaldi joins Deutsche Bank from Goldman Sachs, where he was a partner and global head of securities division technology.

Later this year, on December 1, Nadine Faruque will join as global head of compliance for the bank, and she will become a member of the Group Executive Committee, which performs advisory, coordinating, performance-monitoring and decision-preparing functions for Deutsche Bank’s Management Board.

Faruque joins from UniCredit, where she was general counsel and group compliance officer. She will report to Stephan Leithner, a member of the Management Board, whose functional responsibilities include compliance.