Movers and shakers: Tech leadership changes on the rise

Tech leaders at FIs are part of an exodus of top leadership across industries since the presidential election in November 2024. In December, 230 chief executives left, according to executive outplacement firm Challenger, Gray & Christmas ’ Jan. 30 report. “The environment of economic, political and regulatory uncertainty that prevailed in 2024 certainly led to many CEO exits,” Andrew Challenger , workplace authority and senior vice president of Challenger, Gray & Christmas, said in the report. “With that as a backdrop, we also saw rapid technological advancement and boards that were laser-focused on efficiency and productivity. If CEOs were perceived to be lacking, they were not tolerated.” Leadership in the financial services world is no different. The financial sector reported 112 CEO transitions in 2024, and the tech industry recorded 226 CEO changes, up from 173 in 2023, according to the report. In January, U.S. Bank named its first female CEO Gunjan Kedia , JPMorgan Chase Chief Operating Officer Daniel Pinto stepped down and Truist COO Beau Cummins resigned. Tech roles are evolving as FIs adopt new technology and these institutions have recently announced leadership changes: nCino names Desmond president, CEO Tech provider nCino named Sean Desmond chief executive and president Feb. 3. [caption id="attachment_57378424" align="alignright" width="153"] Sean Desmond[/caption] Desmond, who has been with nCino since 2013, moves into the leadership role after serving as nCino’s chief product officer, according to the company’s release. He led the June 2024 launch of nCino’s Banking Advisor tool . “His extensive knowledge of all key facets of our business, paired with his experience scaling large, multinational organizations, and forward-thinking approach to innovation through data and AI, will help nCino capture new market opportunities and drive meaningful growth,” Pamela Kilday , nCino’s lead independent director, said in the release. New TD CEO Chun takes helm TD Group President and CEO Raymond Chun started in his leadership role on Feb. 1. [caption id="attachment_57378425" align="alignright" width="170"] Raymond Chun[/caption] His appointment was announced in September 2024. Chun succeeds Bharat Masrani , who is stepping down. Chun plans to prioritize anti-money laundering efforts, a key driver in TD’s overall strategy following the bank’s 2024 money laundering charges. The move is among several changes at the institution, including the appointment of Vladimir Shpilsky as leader of platforms and technology, effective Jan. 31. “Vlad is a global technology leader with the expertise needed to further enhance our capabilities,” Chun said in a Jan. 31 TD release. Citi Services appoints Taylor as head of data and client platforms [caption id="attachment_57378423" align="alignright" width="133"] Steve Taylor[/caption] Steve Taylor was named head of data and client platform for issuer services and investor services, effective Jan. 30, a Citi Services spokesperson told Bank Automation News . This newly created role will focus on developing and building data capabilities and client-facing platforms, the spokesperson said. Joseph Bonanno , who had served as global head of data, digital and innovation for security services, moved into a new role in Citi Wealth, the spokesperson said. Ryan Marsh will take over Bonanno’s former role, the spokesperson said. Lloyds taps Lis as head of responsible AI London-based retail bank Lloyds named Magdalena Lis as head of responsible AI, effective Feb. 3. [caption id="attachment_57378426" align="alignright" width="225"] Magdalena Lis[/caption] Lis’ hiring is part of Lloyds’ ongoing AI initiatives, according to a Jan. 30 release. The $1.1 trillion bank in August 2024 appointed Rohit Dhawan as director of AI and advanced analytics. As head of responsible AI, Lis oversees the use of AI to enhance Lloyds’ products and services while integrating safeguards to reduce risk, according to the release. Prior to joining Lloyds, Lis, an AI industry veteran, served as an adviser to the U.K. government on responsible AI usage and was most recently head of analytics and data science at Toyota Concentrated Europe , according to the release. Lloyd's told BAN last month that its 2025 AI initiatives include: Providing code translation between software engineers for sorting company documents; Collaborating with educational institutions and regulators for AI tech development; and Developing customer-facing AI initiatives and processes. Register here for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here .

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