Jon Beyman, former Lehman Brothers EVP, chief of operations and technology and CIO, has joined Citi's Institutional Clients Group (ICG) as managing director, responsible for operations and technology globally. At Citi ICG, he will report to Mark Rufeh, chief administrative officer for ICG. Rufeh joined Citi ICG in April.
Beyman, who left Lehman over two years ago to join the board of DonorsChoose, a charity to fund public school projects, also taught a course on technology management for the University of Connecticut's MBA program during his hiatus from Wall Street.
Beyman describes his new position as the biggest challenge he has ever taken on. "There are 60,000 people in ICG, and I am responsible for about 25,000 of them," he says. "This is a global organization with a very large footprint."
In order to succeed, Beyman is gong to rely partially on his extensive experience on Wall Street. "I've been doing this for 25 years," including his tenures at Lehman brothers and as Cendant Corp.'s CIO. "Basically, I'm tasked with generating efficiencies and productivity and to put money on the bottom line for the business. Initially, although I have only been on the job for five weeks, I need to validate the technology direction that has been put into place and I need to look at how to further improve and create efficiencies on a technology and operational basis.
Although Beyman said it is too early in his tenure at Citi to cite specific projects or technology goals, it is always about increasing efficiency and improving returns. "It is always about how to deliver more bang for the buck and get better, cheaper, and faster."Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio