Scott Marcar, CIO of Royal Bank of Scotland’s (RBS) Markets division, quit this week, according to Computer Weekly sources.
Contacts in the financial services industry revealed that 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 news follows several recent shake-ups at RBS as a result of its “Project Cook” cost-cutting plan, including the retirement of the bank’s head of IT Mike Errington.
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.
More on finance IT
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.
Hundreds of IT staff at RBS have lost their jobs since the bank’s near-collapse during the financial crash of 2008.
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