18
ON THE MOVE On the move
BBVA Compass has named former Garanti Bank Deputy CEO, Onur Genç as its new CEO. He will replace Manolo Sanchez, who will move to the role of non-executive chairman. “BBVA is a global financial group that can tap the world’s best talent and Onur is a clear example of that. I am looking forward to helping him take BBVA Compass to the next level,” says Sanchez.
B
Wells Fargo has appointed Peggy Mangot as Senior Vice President of Design and Delivery for its Innovation Group. Mangot was previously CEO at micro-investing platform SparkGift, which she founded and which was acquired by Stockpile in 2016.
She will be tasked with “creating beautiful designs and elegant flows for customers to understand their offerings” and says she is looking
BVA’s US subsidiary
forward to working with a small team in a large bank. Wells Fargo started the Innovation Group in summer 2015 as a way for the US FI to hash out new business models, processes and user experiences.
U.S. Bank is experiencing a changing of the guard, with President and Chief Operating Officer Andy Cecere succeeding Richard Davis as CEO. The transfer will happen on 18th April during the annual meeting of shareholders.
Davis has held the position of CEO since December 2006, both he and Cecere have worked together for more than a decade. “Andy is one of the strongest and most capable leaders in the banking industry,” says Davis. “He also has an innate curiosity, which will challenge the organisation to focus on innovations that improve the customer experience. I am grateful to pass the
torch to such a qualified leader who shares my commitment to U.S. Bank’s culture and core values.”
Cecere has been with the FI since 1985. He has served as President and COO since January 2016. Prior to that, he was Vice Chairman and Chief Financial Officer, and Vice Chairman of Wealth Management and Securities Services.
Royal Bank of Canada (RBC) is making further moves towards AI, hiring Richard Sutton to work in a recently-established research lab. Sutton, a Professor of Computing Science at the University of Alberta, has experience in the field of “reinforcement learning”, which uses reward and punishment to adapt machines to new tasks. This is based around getting a computer to do something without having to programme it first. The technology is used in Google’s self-driving cars.
“There is a lot of investment discussion about AI creating new capabilities,” said RBC CEO Dave McKay at the bank’s 2017 Canadian Bank CEO Conference. “It is a tool that we are very excited about harnessing within our own organisation.”
RBC has an existing partnership with the University of Toronto, through which it plans to launch two initiatives based around AI and machine learning. The bank has declined to mention how much money it is actually investing in the new technology.
www.ibsintelligence.com © IBS Intelligence 2017
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
