what can we expect in 2023?

The manner in which Sam Bankman-Fried left FTX is not par for the course in the banking and fintech industry. What is clear, however, is that regardless of the circumstances under which senior executives join or leave a company, it is bound to have an impact. The end of 2022 saw many moves amid what has been referred to as a “fintech bloodbath” with many organizations laying off hundreds or thousands of employees. Here’s a roundup of the most headline-grabbing recent hires, departures and company upheavals and what it could mean for 2023.

NatWest

At the beginning of last month, NatWest hired former Google boss David Grunwald in a newly created position of director of innovation and partnerships. With NatWest from PE firm AIRE, where in addition to investment strategy he focused on a portfolio of new ventures, including a digital bank serving corporate customers, Grunwald will now focus on how the bank delivers its strategy through partnership and innovation.

In the same week, it was announced that former PayPal and American Express boss Mark Brant would also join NatWest as head of payments. He takes over from Rupert Keeley, who ran NatWest’s Payments Center of Expertise on an interim basis. Both Grunwald’s and Brant’s appointments show that NatWest is definitely prioritizing innovation in 2023.

Lloyd’s

Lloyds Banking Group has appointed ING technology chief Ron van Kemenade as its new chief executive. Van Kemenade was the first CTO at ING, promoted from CIO, where he was instrumental in turning the Dutch bank’s business around as a data-driven digital bank, working there for over 20 years. He is expected to join the bank in June 2023 and will be responsible for driving the technology and data strategy and leading the technology teams in line with a new strategy and reorganization announced by CEO Charlie Nunn in 2022.

Van Kemenade will oversee the new chief information officers who support the technology transformation across the new business units. Furthermore, this reorganization will involve spending £1 billion over the next three years on overhauling the UK bank’s technology infrastructure and self-service capabilities. The long-term strategy involves porting 20% ​​of applications to the cloud by 2024 and decommissioning over 15% of legacy applications.

Santander

The Spanish bank has opened technology hubs in Malaga and Warsaw to welcome 1,400 technical professionals as part of its digital transformation programme. Santander is currently advertising around 750 tech jobs on a new dedicated website which seeks to attract people with science, technology, engineering and maths backgrounds.

The bank hires experts in platforms and APIs, cloud computing, big data, networks, DevSecOps, AI, software development, enterprise architecture and cyber security. The appointment follows a commitment from 2019 to invest 20 billion euros in digital and technology over four years. The bank has already migrated 90% of its infrastructure to the cloud, and recently announced that it would launch Gravity, its own customizable software.

Bank of London

Global clearing and transaction banking startup Bank of London has appointed Silicon Valley Bank’s Gavin Hewitt as group CFO. As CFO of Silicon Valley Bank, Hewitt was instrumental in establishing the UK subsidiary of the bank and driving growth in the region in recent years. Hewitt previously held CFO roles at HSBC in both the UK and European Commercial Banking divisions, was also Deputy CFO of the UK Retail division and held senior finance roles across a number of Barclays divisions.

Hewitt joins a number of recent hires at Bank of London, including recently appointed UK CFO Marc Jenkins, who was recruited earlier this month from Metro Bank. Other recent hires include 10x Banking CTO Phil Knight as head of IT, Shawbrook Bank’s Tom Wood as UK deputy managing director, Société Générale’s Vince François as head of audit, and Accenture’s Felipe Hillard as head of customer and product.

Starling

Starling Bank has pledged to create up to 1,000 jobs, including many technology positions, when it opens its fourth UK office in Manchester. Starling is recruiting for roles in operations, software engineering, data science, cyber security and customer service ahead of its Manchester opening in the first half of 2023.

Fast

Following the news of chairman Yawar Shah’s departure at the end of last year, Swift re-hired Stephen Grainger from Mastercard to serve as Americas and UK CEO this week.
Grainger will return to Swift after a four-year break at Mastercard, where he led the development and commercialization of the global cross-border services business.

Before leaving for Mastercard, Grainger had spent three years at Swift, starting as head of payments and suppliers banking in the UK before moving on to head North America. Grainger has also previously held senior roles at Goldman Sachs, Bank of America and Citigroup.

Stripe

In late 2022, UK Fintech Envoy and Chair of Innovate Finance Louise Smith was appointed Chair of Stripe Payments UK Limited. This is a big announcement for the organization and the UK fintech sector as Stripe’s presence in the country approaches a decade. Smith’s appointment is well-timed, particularly as the company’s clients now include some of the country’s biggest organisations, such as Depop, Deliveroo, Hargreaves Lansdown, Frasers Group, the Natural History Museum and the Church of England.

Smith was the first-ever Chief Digital Officer at Lloyd’s of London and led efforts to transform the firm into an advanced digital insurance marketplace underpinned by data. She also spent over 15 years in retail banking roles at Royal Bank of Scotland – now NatWest – and Barclays, where she built digital services for consumers and businesses, rolling out artificial intelligence and data technologies to deliver more efficient operations.

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