Calastone Research Reveals Rise of Technologists at Board Level

Calastone Research Reveals Rise of Technologists at Board Level
16.11.2016 11:45 am

Calastone Research Reveals Rise of Technologists at Board Level

Infrastructure

Calastone, the global fund transaction network has today launched a new whitepaper, “The accelerating power of technology: lessons for the future of fund distribution.” Within the paper, research conducted by Calastone demonstrates that structural changes are being made to include technologists in the makeup of boards and senior management teams across the FTSE-100. This development, Calastone writes, is due to the ever-growing importance of technology as a driver for business strategy and innovation.

Having undertaken extensive research into the makeup of boards and leadership teams of all the FTSE-100, key findings of the research are as follows: 

  • Number of technologists at board level has increased from 2 to 4 over the last 5 years
  • Number of technologists present at leadership team level has increased significantly from 4 in 2011 to 24 in 2016
  • Banks and Financial Services sector firms are beginning to follow this trend with 3 out of the 10 companies listed on the FTSE-100 now having a technologist present at either board or leadership level, roles that did not exist in 2011
  • The emergence of the role of Chief Data Officer now represents 2.2% of technologists at senior management level 

Calastone believes that the mutual funds industry needs to continue this trend and evolve with technology at its centre if it is to benefit from the changes it brings. The paper recognises that this continued shift is vital across the whole of the funds industry; making the case that the right skills and expertise at senior and board levels of an organisation will aid the deployment of effective technology, and therefore business, strategies. 

Jon Willis, Chief Commercial Officer at Calastone, said of the paper, “As a financial technology company with technology at its heart, and with a unique position in the funds industry, the trends we have highlighted in the research are critical. The paper demonstrates the need for a cultural change to ensure technology issues are firmly part of the long-term strategic agenda. Calastone believe that an increased level of technological expertise and understanding of emerging and disruptive technologies is vital for the development and sustainability of the funds industry.”

Related News

Database Monitoring Shown to Improve DevOps Success for Financial Services

A newly released Financial Services edition of Redgate’s 2020 State of Database Monitoring Report reveals the sector is outperforming... Read more »

Atos Becomes Strategic Partner of Student Loans Company

The Student Loans Company (SLC) has appointed Atos, a global leader in digital transformation, to support the delivery of improvements to SLC’... Read more »

25,000 People Pre-register for Chip’s Biggest Funding Round Yet

Chip, the automatic saving app offering access to market leading returns, is about to launch its biggest funding round yet to a record number of pre-registrations. The company... Read more »

Apex Partners with Calypso to Provide Middle and Back-office Services to Ardent Financial

Apex Group Ltd. (“Apex”), a global financial services provider, announces today that it has been appointed to provide front to back office solutions to FCA... Read more »

New Free Whitepaper Helps FSI Businesses Achieve Digital Transformation- Fincons Group

Today, Fincons Group, an international system integration consultancy with offices in Italy, Switzerland, the UK, France, the U.S. and Germany, releases a new free guide to... Read more »

Join CNA, Nationwide and Quadient for a C-Suite Take on Results Driven Technology

It has been made abundantly clear that only the most innovative, fast-moving and customer centric carriers will survive. As the spotlight shines on our industry more than ever... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel