Rangaswami to quit as Dresdner Kleinwort CIO

JP Rangaswami has quit as chief information officer of investment bank Dresdner Kleinwort to take up as CIO of global services for BT.

Rangaswami was at the helm of Dresdner Kleinwort when the bank launched its digital markets division last year, with a remit to develop and operate electronic and web-based trading, execution and analytical services. He was also involved in pushing Dresdner Kleinwort to take up Web 2.0 technologies.

However, news of his departure comes amid reports that the bank has disbanded the digital markets unit as part of a major overhaul of its capital markets businesses.

Sean Park, who ran digital markets, is also reported to be leaving.

The digital markets operation was originally suspended earlier this year following a review by Dresdner Kleinwort’s recently installed head of capital markets Jens Peter Neumann.