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Kim Hammonds will Replace Departing Deutsche Bank CIO and Global Head Tony McCarthy

Former Boeing CIO will take over for Anthony (Tony) McCarthy as DB's global co-head of group technology & operations.

Deutsche Bank announced Thursday morning the appointment of Kim Hammonds as chief information officer and global co-head of Group Technology & Operations. Hammonds previously served as chief information officer at Boeing.

She will fill the position of Anthony (Tony) McCarthy on November 25. She will be based in London, report to chief operating officer Henry Ritchotte and work alongside Jim Turley, global co-head of GTO.

Per the press release, Hammonds was recognized as a Top 100 Premier IT leader in 2012 by Computerworld and the previous year received an Information Week 500 top manufacturing innovator award. Her professional career also includes stints at Dell and Ford Motor Company. She has an MBA from Western Michigan University and a BSc in mechanical engineering from the University of Michigan.

McCarthy began his work at Deutsche Bank in 1997 and was appointed CIO for its Global Technology division in 2011. According to the press release, McCarthy is leaving to pursue other career opportunities. He steps down on November 15th, but will be available in the 10-day transition period before Hammond takes the reigns. Becca Lipman is Senior Editor for Wall Street & Technology. She writes in-depth news articles with a focus on big data and compliance in the capital markets. She regularly meets with information technology leaders and innovators and writes about cloud computing, datacenters, ... View Full Bio

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KBurger
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KBurger,
User Rank: Author
11/18/2013 | 4:50:22 PM
re: Kim Hammonds will Replace Departing Deutsche Bank CIO and Global Head Tony McCarthy
I just commented about this on a different site, an article about changing role of CIO. My point being, often FIs hire from outside the industry, or non-IT backgrounds, looking for a new perspective and fresh blood -- but then the marriage doesn't work because the company/management ultimately doesn't want to go out of its comfort zone. Your example is kind of a different side of the same coin. Be careful what you wish for in a hire because if it's about buzzwords or comfort zone, it isn't going to drive an effective growth strategy.
Becca L
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Becca L,
User Rank: Author
11/18/2013 | 4:05:29 PM
re: Kim Hammonds will Replace Departing Deutsche Bank CIO and Global Head Tony McCarthy
Furthering this effect, a lot of times executives will bring along their close and loyal staff, giving them new jobs in the new firm. But the staff may apply the same ideas and workflow. For power teams this could be a good thing - or it could not.
Greg MacSweeney
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Greg MacSweeney,
User Rank: Apprentice
11/18/2013 | 1:59:54 PM
re: Kim Hammonds will Replace Departing Deutsche Bank CIO and Global Head Tony McCarthy
Yes, too often banks hire c-level executives from other banks, which jsut perpetuates group think and potentially replicates bad decisions from one firm to another.
RandeepS010
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RandeepS010,
User Rank: Apprentice
11/18/2013 | 1:13:22 PM
re: Kim Hammonds will Replace Departing Deutsche Bank CIO and Global Head Tony McCarthy
This demonstrates DB's desire to push capable women with demonstrable experience into the CXO positions -a good thing. This also demonstrates that DB doesn't have an inward looking strategy as far as technology is concerned -something that has been prevalent in the sector for quite some time.
IvySchmerken
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IvySchmerken,
User Rank: Author
11/8/2013 | 5:35:45 PM
re: Kim Hammonds will Replace Departing Deutsche Bank CIO and Global Head Tony McCarthy
Also, with the burgeoning interest in Big Data analytics, a CIO from the pharmaceutical industry whose firm worked on clinical trials and has lots of experience with data analytics and cloud would certainly appeal to a financial services firm. Then again, there's the whole IT infrastructure aspect, (i.e., data centers, virtualization) that could be missing.
IvySchmerken
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IvySchmerken,
User Rank: Author
11/8/2013 | 4:47:30 PM
re: Kim Hammonds will Replace Departing Deutsche Bank CIO and Global Head Tony McCarthy
If they are seeking certain skill sets such as experience with data warehousing or large integration projects, industry specific experience may not be as necessary. If the firm's entire business is automated trading and market making, capital markets experience is more critical.
Byurcan
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Byurcan,
User Rank: Author
11/8/2013 | 4:19:14 PM
re: Kim Hammonds will Replace Departing Deutsche Bank CIO and Global Head Tony McCarthy
It's becoming more of a trend that financial services companies are hiring CIOs from outside the industry. I wonder if it will continue.
IvySchmerken
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IvySchmerken,
User Rank: Author
11/7/2013 | 6:55:09 PM
re: Kim Hammonds will Replace Departing Deutsche Bank CIO and Global Head Tony McCarthy
It's more typical to see firms hire CIOs who come from capital markets, but Deutsche Bank is tapping CIO talent from the aerospace industry (Boeing) and also automotive (Ford Motor). Also, good to see a women CIO gain access to the C-suite. It's still rare.
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