Hello from London!
Well...actually, by the time you read this, I will be continuing my barnstorming of Europe and will be on a flight to Belgrade, Serbia. Semantics.
While over in the UK - aside from almost being killed by buses and cabs that drive too close to the curb (on the wrong side of the road too) - I interviewed the co-founder of Majedie Asset Management, Simon Hazlitt, and the head of risk and finance technology for RBS, Scott Marcar. Additionally, on the day before I left for my European vacation, I interviewed Catherine Bessant, who heads global technology and operations at Bank of America.
What struck me was just how different these three people's opinions of technology were, although they came to the same conclusion as to what their greatest concern is - data management.
Hazlitt's only connection to technology is the partnerships he builds with third-party vendors. Everything at Majedie is done through the cloud in some form or another - the firm does not have a single person dedicated to IT. But for him, the all-encompassing function of his cloud strategy is to deliver data to Majedie's clients as quickly and reliably as possible.
Marcar is technologically proficient. He manages a large staff of technologists and fully believes in the ability of technology to make an organization great. He is in the midst of a massive data architecture overhaul that will - he hopes - turn RBS into the gem of The City.
Bessant had absolutely no background in technology prior to taking over her role inside BofA's global technology and operations unit. For her, "technology is the enablement of a bank, not the destination." But while her concern is how technology fits into the business structure of the Charlotte behemoth, using data to reduce risk - and revolutionizing the company's data infrastructure - is what she believes will make BofA great.
I found those three interviews fascinating. I never get tired of how different the people that make up the capital markets' elite technologists view that magical word - technology.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Pimco replaces Bloomberg EMS with TS Imagine
Fixed income giant is shrinking its Bloomberg EMS footprint, though not removing it completely, sources say.
24X says requested SIP exemption won’t break the market
In a new letter to the SEC, the startup exchange says data infrastructure that operates like the SIP is available as it looks to launch overnight trading this summer.
What firms get wrong when changing investment operations technology
Without operating redesign, governance, and clear accountability, modernization can amplify risk instead of reducing it, writes Patrick Conroy.
In record year, SS&C changes division name, emphasizes role of AI
Announcing the vendor’s record financial results, CEO and chairman Bill Stone reassured investors that the vendor is not depending too heavily on AI.
Cboe sells to TMX, TT links to NZX, Broadridge and Digital Asset invest in HQLAX, and more
A recap of this week’s major tech and data news in the capital markets.
The road to alpha is paved with hardware
Fully hardware-based systems are the natural evolution of capital markets infrastructure
CME sees progress in cloud migration, gains in market data revenue
Two agricultural products will be the first to move to cloud this year. The exchange group is also testing tokenization with banks and clearing members.
Euronext eyes bigger audience with new market datafeed
The European exchange is debuting a new cloud-based offering aimed at banks and mid-size asset managers that don’t need low-latency data.