The merger of Bankers Trust New York Corp. into Deutsche Bank A.G. has shaken up the ranks of Chief Information Officers, provoking an exodus of several senior IT executives and promotions for others.
David Marshall, formerly the CIO and head of operations at Bankers Trust in New York, left the bank this summer and was scheduled to rejoin Toronto-based CIBC in August as vice-chairman responsible for electronic commerce, technology and operations. Marshall, who brings more than 30 years experience in the information technology industry, was CIO of CIBC from 1995-1996.
Meanwhile, Sholom Bryski, formerly Chief Technology Officer at BT, joined Lehman Brothers as CTO.
Thomas G. Miglis, who was previously managing director in charge of Global Systems for BT, is said to have left the bank and formed his own IT consulting firm, according to a source. Miglis, who joined BT in April 1988 and reported to Marshall, was responsible for all computer systems applications strategy, development and maintenance as well as overseeing the bank's Year 2000 and EMU technology preparations. Miglis was previously global CIO of Salomon Smith Barney until its merger with Citibank.
The IT changes are a sign that Hermann-Josef Lamberti, DBs new worldwide CIO, is making his presence known. Lamberti joined DB on Dec. 7 as the outgoing general manager for IBM in Germany to assume control of the transaction services division. Recently, he was appointed to the DB management board responsible for Group Division Global Technology and Services as of October.
As part of the reorganization, Mary Cirillo, formerly head of BTs global institutional servicing group received a vote of confidence in June from the bank when she was named chief executive officer of global institutional services (GIS) in the global technology and services division (GTS) for the newly merged entity. GIS handles the global business with financial institutions (banks, insurances, brokers, etc.), making it the division's major profit center. Its main products are global custody, investor services, corporate trust and agency and global cash management and trade payments.
Virginia Gambale, who is CIO for DB Alex. Brown, is also now head of New World of Banking which holds a portfolio of strategic technology and financial services startup ventures.