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Wachovia Corp. CIO Targets Customer Loyalty, Efficiency, and Mergers and Acquisitions

Martin B. Davis, CIO of Wachovia Corp., makes customer loyalty initiatives, IT organization efficiency, and mergers and acquisitions top priorities

Wachovia Corp.
Martin B. Davis
Corporate CIO, EVP

Wachovia Corp.
301 South College Street
Suite 4000 One Wachovia Center
Charlotte, NC 28288-0013


Market capitalization of $90.2 billion; assets of $541.8 billion as of March 2006.


Wachovia: CIO, commercial technology; senior technology officer, wealth management; SVP and group executive, information services architecture and administration; SVP and group manager, capital markets technology; SVP and group manager, bankcard technologies; VP, application development and management; collections assistant, Wachovia services.


B.A. in business administration from Winston-Salem State University.


The hands-on work I did as a developer. It helps me relate to the work my team is doing across the entire organization and the challenges they have in delivering IT services to their line-of-business partners.

Top 3 Current Projects

Revenue Generation and Customer Loyalty Initiatives


We have a host of activities under way across different business areas to assist our lines of business in revenue generation and ensuring customer loyalty from an attrition and customer satisfaction perspective. For example, we are building an enterprise case management system -- which will be a common platform for the organization -- to ensure that we understand any issues/concerns our customers have.

Efficiency Initiatives


We are looking to the IT organization to ensure we are providing our services at a lower price point for our internal customers, ultimately to reduce the expense burden for the organization. To that end we have a number of initiatives, including looking at the work we are doing with our preferred vendors, ramping up our IT and business process offshoring activity or just making our internal organization more efficient.

Mergers and Acquisitions


There are a number of different acquisitions currently on our plate, such as Westcorp and Golden West Financial, and we are working through all those to integrate them into our environment.

2007 Initiatives

Golden West Acquisition

Ensuring a smooth transition and integration of Golden West into Wachovia Corp. will be key for us in 2007.


IT Budget:

More than $1 billion.

Size of Technology Team:

More than 5,000 employees, plus another few thousand related to contractors, consultants, etc.

Percent of IT Projects Outsourced:

We don't have a set percentage that we look to outsource or offshore. We take it on a case-by-case basis, looking at the demand and where our partners can assist us, whether from an outsource or offshore perspective. We will buy versus build where we can. Speed to market is critical for our lines of business, so if we can buy certain components and integrate technology versus deliver it all, we're very comfortable doing that.

In considering the outsourcing/offshoring space, we look to increase our capacity, take on more work for our lines of business and satisfy the demand we have coming in. We also look to improve our internal process quality. And we look for any cost advantages it can provide. I am very pleased with the services being provided by my three major offshore firms -- Infosys, Cognizant and IBM -- and we have had a steady flow of work from a development and maintenance perspective with them.

Key Technology Partners:

From an offshore perspective we do business with Infosys, Cognizant and IBM. Other usual suspects are the likes of Microsoft, Cisco and so forth.

Success Metrics:

We have a number of internal processes and metrics in place to ensure efficiency and quality of project deliverables to the lines of business, both on project activities as well as day-to-day work. We continue to mature in the metrics and benchmarking space, and are doing more to benchmark ourselves internally, as well as benchmarking ourselves externally. We also constantly try to compare a project to its original business case once it has been completed.

Vision: The Next Big Thing

What will be critical for sustained competitive advantage going forward will be what I call applied technology innovation. My leaders and employees are best positioned to apply specific technologies to help the lines of business innovate. So I'm ensuring that in my teams' goals for 2006 they are spending a lot of time with their lines of business -- watching the technology being consumed, if you will -- in order to make suggestions around automation and innovation.

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