Barclays hires a new Chief Technology Officer to boost strategic development
Barclays Appoints Shaygan Kheradpir as Group Technology Executive
Barclays Bank has appointed Shaygan Kheradpir as its first group technology executive, marking a significant step in the bank's transformation strategy. This appointment reflects the growing importance of technology in the financial services industry and Barclays' commitment to digital innovation.
Kheradpir, a seasoned technology executive, will report directly to CEO Anthony Jenkins and sit on the bank's executive committee. He will be responsible for driving the bank's technology-led transformation initiatives, aiming to modernize its IT infrastructure, adopt new digital solutions, and stay competitive in the rapidly changing financial services landscape.
Before joining Barclays in December 2010, Kheradpir was CIO and CTO of mobile telecommunications provider Verizon. Prior to that, he was an adjunct professor in electrical engineering at Northeastern University, in Boston, Massachusetts. His appointment at Barclays was in response to the bank's strategic review, which identified improvements in the efficiency and effectiveness of operations, facilitated in part by technological innovation and automation, as a key priority.
In his new role as COO and CTO, Kheradpir has overseen technology innovations such as PingIt, Barclays' mobile money transfer app. He has been instrumental in driving the bank's mobile technology, a move that has been credited with cutting the time required to set up a new customer account from 90 minutes to 30 minutes in Barclays' branches in Portugal.
Barclays' transformation strategy was unveiled last week, and the improvements in operations, as facilitated by technological innovation and automation, were identified as a key priority. The appointment of Kheradpir comes in the wake of the LIBOR fixing scandal, which led to the step down of Jerry del Missier, the bank's previous chief operating officer, in July 2012.
With Kheradpir's expertise in technology innovation and transformation, Barclays is poised to reshape its operations and technology platforms to enable a more agile, customer-focused, and technology-driven business model. As the bank continues to navigate the challenges of the digital age, Kheradpir's leadership is expected to be crucial in maintaining Barclays' competitive edge in the global financial services market.
Kheradpir's role as COO and CTO will focus on driving business transformations through technological innovations at Barclays, such as modernizing its IT infrastructure and adopting new digital solutions. This strategic move underscores Barclays' commitment to staying competitive in the rapidly evolving landscape of both technology and the financial services industry.
