UBS CTO McCormack Outlines Need for 'Radical Transformation'

As equities trading revenues decline, capital markets firms are under pressure to transform and reinvent themselves because a return to the good old days isn't on the horizon, says Domhnall McCormack, investment bank CTO at UBS and group head of business and application architecture.

"Net–net, we're all under long-term pressure and we need to transform ourselves—and a radical transformation is required," says McCormack, who laid out his blueprint for investment bank CTOs to achieve this "radical