Deutsche Bank has appointed its first chief data officer, with former BT tech executive JP Rangaswami taking on a role to standardise information management to support the bank’s digital strategy.
He joins from software as a service giant Salesforce.com where he has been chief scientist since 2010. Prior to that he had a five-year spell at BT and before that was CIO at investment bank Dresdner Kleinwort Wasserstein.
Originally an economist and financial journalist, Rangaswami has also held a number of senior positions at other multinational companies, including Burroughs Corporation, Data General, and Capgemini. In his latest role he will be based in London and will report to Kim Hammonds, global CIO at Deutsche Bank.
Hammonds said: "JP has a track record of partnering closely with senior business leaders to deliver innovation. He will help drive competitive advantage by deepening the Bank's insights into clients and markets, while enhancing its data quality and controls."
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Salesforce CEO Marc Benioff once described Rangaswami has having “the rare talent of being able to see what the future should be, knowing what it takes to get there, and the enthusiasm to make it happen".
Information is becoming increasingly valuable to businesses and the role of chief data officer is one that crosses IT and business. Businesses today need to monetise and integrate data, while developing the right Governance models.
In a recent interview with Computer Weekly Glenn Murphy, CIO at London & Capital, said: “With big data and analytics offering incredible value to organisations, those that understand the data, its value and how it can be used across all business functions will become the true chiefs of the future."