Several hard realities, including legacy technology and the pace of change in software and apps, leave firms vulnerable to outages that stir public outcry.
Nick Shevelyov, former chief security officer, will now serve as its chief information officer. Robin Staples, former head of IT digital, will serve as the new chief technology officer.
Turnover of chief risk officers is on the rise as CEOs look to add executives whose experience goes far beyond assessing credit risk. Sometimes they are promoting from within, but often they are poaching talent from rival banks.
Bank information technology departments are tasked with making sure their institutions modernize and remain competitive. But their mission brings a host of technical and cost challenges that often stand in the way of innovation.
