https://www.efinancialcareers.co.uk/news/2018/04/technology-at-deutsche-bank
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DB has outsourced IT to a multitude of consulting companies including IBM, Accenture, HP, Sutherland, etc... And they wonder how they got to this point...
Indeed, some DB refugees went to WF and did similar things there.
Wow. One of these articles is needed for Wells Fargo. Like whats mide, mode and Core? There is probably something else now.
Here is a chat summary of the DB article:
Deutsche Bank faced significant challenges with its IT systems, which were characterized by complexity, dysfunction, and a lack of integration. COO Kim Hammonds, tasked with streamlining the bank's operating systems, left after describing the organization as "vastly complex" and "the most dysfunctional place she's ever worked." The bank had numerous operating systems and booking systems for trades, leading to inefficiencies and difficulty in managing risk.
When CEO John Cryan took over in 2015, the IT infrastructure was in disarray, with outdated hardware and software causing integration problems and reporting nightmares. Hammonds and her team made some progress in eliminating operating systems and improving stability, but key challenges persisted, especially with large and complex trading systems.
Rationalizing IT systems became a matter of internal politics, as different teams fiercely protected their platforms. Cryan's authority over senior managers appeared weak, and the bank's alienation of contractors further complicated the system rationalization process.
Despite Hammonds' innovative efforts, she faced constraints of time and resources, and her tenure was criticized for a perceived lack of motivation and failure to achieve significant change. Some of Cryan and Hammonds' key lieutenants remained at the bank, and the future of IT system transformation depended on the leadership of new CEO Christian Sewing.
Deutsche's technologists were uncertain about the bank's future, hoping that the strategy to rationalize operating systems would continue. Some pointed to successful examples like Autobahn and Aladdin as evidence of potential change. Overall, the bank was waiting to see how the situation would evolve under new leadership.