News

Ex-RBS CIO takes up Deutsche Bank role

Caroline Baldwin

Scott Marcar, who quit his role as CIO of Royal Bank of Scotland’s (RBS) Markets division in July, has been announced as global head of IT infrastructure at Deutsche Bank.

Marcar will take up the position in October and will be responsible for designing, operating and modernising the bank’s infrastructure to “drive greater security, stability and cost efficiency.” He will be based in London.

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Marcar was the second senior IT person to leave RBS in a quarter, following the retirement of the bank’s head of IT Mike Errington.

The news follows several recent shake-ups at RBS as a result of its “Project Cook” cost-cutting plan.

Earlier this year, the bank closed 44 branches in response to changing customer habits. The firm reported a 30% drop in in-branch transactions over the last four years.

In February, RBS outlined plans for restructuring IT systems to improve customer services and reduce the risk of smaller failures impacting wider operations, as part of a £750m investment in improving its troubled IT systems.

Over the past couple of years, the bank has had a number of IT issues. In May this year, there were outages for customers using mobile banking systems. In April, RBS’s Natwest operation suffered technical failures, which led to customers' interest payments being withheld.

In 2012, problems caused by a mainframe software upgrade led to 12 million accounts being frozen and some customers unable to access their money for five days, leading to a £175m bill to pay compensation to account holders.

In April 2013, the Financial Conduct Authority announced a probe into the RBS IT problems, but that investigation has yet to report its findings.

Hundreds of IT staff at RBS have lost their jobs since the bank’s near-collapse during the financial crash of 2008.

Marcar will be replaced by Adam Wheelwright, currently global head of prime, collateral and operations technology at RBS, who is stepping in to the position on an interim basis.

The appointment of Marcar is part of a Deutsche Bank hiring spree of 500 employees in the US. The bank has also appointed Richard Shannon as Americas chief information officer (CIO) and co-head of group technology and operations (GTO) Americas. Shannon will be based in New York.


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