Ever since John Cryan's Strategy 2020 mooted a total shakeup of Deutsche Bank's IT division in 2015, technology at the German bank has been in a state of flux. The exit of COO Kim Hammonds in April after her declaration that DB was the most dysfunctional place she ever worked, didn't help matters. However, both Hammond and other ex-Deutsche tech executives seem happy in their DB afterlife.
Take Jorge Vacarini Junior, who served as Deutsche's CIO (chief information officer) up until this May. He's becoming the director of technology and operations at a new firm, the name of which he will reveal this week, as per his LinkedIn profile. His new role is likely to be related to the healthcare sector, according to sources. A technology veteran with more than two decades of experience, Vacarini Junior joined Deutsche in 2012 and remained there for more than six years. He headed IT production management before becoming Deutsche Bank's CIO in the second half of 2012.
Meanwhile, Hammonds herself appears to be starting her own firm: Mangrove Digital Group. Before joining Deutsche, Hammonds served as the CIO of Boeing and as the director of Americas manufacturing operations at Dell. She also spent 16 years working for Ford as director of Manufacturing Systems for North America.
While at Deutsche, Hammonds attempted to streamline Deutsche's sprawling IT infrastructure by reducing its multifarious computer systems down to four from over 40.
Mangrove Digital may well be an attempt by Hammond to cash on the digital transformation is all the rage. Most major banks, including Deutsche, are in the middle of the transformation process. "Right now, banks are all about hiring digital transformation specialists," says Paul Bennie, managing director of recruitment firm Bennie MacLean. "It's really taken off and there's a very limited talent pool of people with the necessary combination of business expertise and technical knowledge."
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