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Factbox: Bank of America's next CEO? List of possible candidates
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com + 0.94   time to read: +1 min
(Reuters) - Bank of America Corp Chief Executive Brian Moynihan has been at the helm for more than a decade, having guided the bank out of a financial crisis and transformed it into a nimbler operation. FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. Last year, Bank of America promoted eight next-generation executives to senior management. Any of the 23 people on that team could, in theory, be the next CEO, though recruiters and insiders pointed to a handful as more likely than others. Others who were front-runners in past management shuffles are now likely too old to become CEO when Moynihan retires, the recruiters and insiders said.
Persons: Brian Moynihan, Carlo Allegri, Moynihan, Dean Athanasia, Andy Seig, Merrill Lynch, Cathy Bessant, Steve Boland, Raul Anaya, Alastair Borthwick, Jim DeMare, Mike Lyons, Mark Chancy Organizations: Reuters, Bank of America Corp, of America, REUTERS, Bank of America, Merrill Lynch Wealth Management, PNC Financial Services, SunTrust Banks Inc, Wells Fargo & Co Locations: Manhattan, New York City , New York, U.S, Wells
NEW YORK (Reuters) - When Brian Moynihan took the reins at Bank of America Corp in 2010, the U.S. bank was reeling. Since then, Moynihan, 61, has not just righted the ship, but transformed Bank of America, leaving analysts, industry people and some investors wondering what - and who - comes next. That leaves Moynihan with a new challenge over the next few years: determining who would best replace him, and marketing that person to the world without alienating other senior executives. Yet it leaves Moynihan as the longest-tenured CEO on Wall Street who has not offered a crisp idea of who is next, analysts said. “Now that he has four or five years of runway left, investors should be rightfully saying, ‘Hmmm,’” said one former bank employee.
Persons: Brian Moynihan, Shannon Stapleton, Moynihan, , , Sydney Finkelstein, Ken Lewis, Finkelstein, “ You’re, ” Moynihan, Piper Sandler, Jeffery Harte, , ’ ”, Raul Anaya, Dean Athanasia, Cathy Bessant, Steve Boland, Alastair Borthwick, Jim DeMare, Andy Seig, PNC’s Mike Lyons, Mark Chancy, Moynihan’s, Tom Montag, Montag, Warren Buffett, ” Buffett Organizations: YORK, Bank of America Corp, Bloomberg Global Business, REUTERS, of America, Bank of America’s, Dartmouth’s Tuck School of Business, Bank of America, Wall, Bank of, Justice Department Locations: U.S, New York City , New York, Bank
FACTBOX-Bank of America's next CEO? List of possible candidates
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com + 0.99   time to read: +1 min
Last year, Bank of America promoted eight next-generation executives to senior management. Any of the 23 people on that team could, in theory, be the next CEO, though recruiters and insiders pointed to a handful as more likely than others. Alastair Borthwick, president of global commercial banking and head of wholesale credit. Mark Chancy, formerly of SunTrust Banks Inc and now a Wells Fargo & Co director. Others who were front-runners in past management shuffles are now likely too old to become CEO when Moynihan retires, the recruiters and insiders said.
Persons: Brian Moynihan, Moynihan, Dean Athanasia, Andy Seig, Merrill Lynch, Cathy Bessant, Steve Boland, Raul Anaya, Alastair Borthwick, Jim DeMare, Mike Lyons, Mark Chancy Organizations: Bank of America Corp, Bank of America, Merrill Lynch Wealth Management, PNC Financial Services, SunTrust Banks Inc, Wells Fargo & Co Locations: Wells
Year Up is a training program for non-traditional candidates to get Wall Street tech jobs. Cathy Bessant, Bank of America's top tech exec, told Insider how the bank partners with YearUp. Year Up is a nonprofit that runs a 6-month professional training program for young adults who do not already have college degrees to launch careers at established companies. Bank of America's Chief Operations and Technology Officer, Cathy Bessant Bank of AmericaCathy Bessant, Bank of America's chief operations and technology officer, has spearheaded the partnership over the last decade. "I get statistics on our interns, hiring rates, the fields that they go into, the tenure with which they stay with the bank," Bessant said.
Persons: Cathy Bessant, Bessant, Greg Boucicaut, Mark Cuban, Kevin O'Leary, Boucicaut, Gerald Chertavian, Cathy Bessant Bank of America Cathy Bessant, I'm, Chertavian, they've, that's, Gerald, it's Organizations: Wall, Bank of, YearUp, Bank of America, Baruch College, Shark, Abt Associates, Conduit Communications, " Bank, Bank of America's, Operations, Technology, Cathy Bessant Bank of America Locations: New York City, Haiti, United States
Firms are dialing back on video calls to avoid 'Zoom fatigue'
  + stars: | 2021-05-25 | by ( Jonathan Keane | ) www.cnbc.com + 0.00   time to read: +5 min
But for some, the endless parade of video calls has become a bit too much. HSBC and Citi have introduced so-called "Zoom-free" days, setting aside a day of the week where employees aren't expected to be on video calls. There's an emerging niche in research around the effects that constant video calls are having. Jeremy Bailenson, a professor at Stanford University, has been studying the impact that video call overload has had on people, dubbed "Zoom fatigue." Tech giants TikTok and Salesforce have imposed some restrictions and limits on the amount of video meetings its employees do.
Persons: Zoom, There's, Slack, Cisco Webex, Jeremy Bailenson, Bailenson, Terri Moloney, Atish, Cathy Bessant, Sandeep Mathrani, Estee Lauder, Tracey Travis, Moloney, Plum, Victor Trokoudes, Leighton Hughes, Hughes Organizations: HSBC, Citi, Microsoft, Cisco, Stanford University, CNBC, Tech, Salesforce, Work, Facebook, Bank of America Chief Operations, Technology, Engineers, Nvidia Locations: Dublin, British, Greece
Pick will oversee the firm's international operations and co-lead strategy and execution with investment management head Dan Simkowitz . Pick will oversee the firm's international operations and co-lead strategy and execution with investment management head . On Thursday, it announced in a statement that cofounder Josh Harris would step down as managing director once Apollo merges with insurance affiliate Athene . Other new additions include managing director Joe Rinaldi, managing director Eric Schnyder, director Emily Sutton, director Matt Kochan, director Zac Kalemba, vice president Luis Victorio and associate Mike Le. Healthcare and life sciences investment bank SVB Leerink announced more hires amid its rapid expansion.
Persons: Jamie Dimon, Marianne Lake, Jennifer Piepszak, Dimon, Gordon Smith, Smith —, Daniel Pinto, Jeremy Barnum, Matt Sable, Morgan Stanley, Andy Saperstein, Ted Pick, Dan Simkowitz, John Pruzan —, Morgan Stanley's, Saperstein, Morgan, Pick, John Pruzan, Sharon Yesaya, Shelley O'Connor, Mike Pizzi, Jed Finn, Peter Ma, PEHub, Josh Harris, Craig Farr, Farr, Carlyle, Scott Kleinman, Jim Zelter, Nick Cole, Quinn, Cole, Joe Rinaldi, Eric Schnyder, Emily Sutton, Matt Kochan, Zac Kalemba, Luis Victorio, Mike Le, Christoph Schumacher, Schumacher, Wells Fargo, John Hackney, James Peery, Hackney, Doug Heinz, Heinz, SVB Leerink, Jason Auerbach, Auerbach, Toby King, King, SVB, Katie Keenan, Keenan, Steve Plavin, Michael Lacorazza, Tony Kerrison, Cathy Bessant, Mandeep Walia, Walia, Jeremy Fox, Greene, Goldman Sachs, Peeyush, John Binnie, Kirk Shryoc Organizations: JPMorgan, CIB, Banking, Specialized Industries, Pruzan, Morgan, Morgan Stanley Investment, Investment, Apollo Global Management, Apollo, Mitsubishi UFJ Financial, Restaurant Finance, Manulife Investment Management, Credit Suisse Asset Management, Power, Utilities, Renewables, Energy Solutions, Technology, Citadel, LMR Partners, Healthcare, UBS, firm's Healthcare Services, Citigroup, Blackstone Mortgage Trust, Street, Bank of, Bank, Facebook, Paypal, Uber, ., Bank of America, Solutions, Mobility Financial Management Locations: Colbeck, Wells Fargo, San Diego, Atlanta, Chicago, Boston, New York, North America, . Grapevine , Texas
Auerbach, who was promoted to global cohead of TMT in July, is among a team of four TMT bankers that joined UBS from Jefferies in 2015. Jose A. Bernat Bacete/Getty ImagesTony Kerrison, Bank of America's CTO, is expected to now report directly to Cathy Bessant, the bank's top tech executive. Kerrison, who leads the bank's tech infrastructure, has also expanded his duties, and the promotion underscores the bank's commitment to cloud technology. The firm hired five people last month from Silicon Valley Bank and Bank of America. Execs leading specialized industries for middle-market banking and VC coverage walked us through the bank's next steps and hiring plans.
Persons: Morgan Stanley, Jason Auerbach, Ellis, Mala Gaonkar, Cathy Bessant, Carl Court, Leerink, Auerbach, Chris Montgomery, Tayfun, Nicolas Economou, Samantha Lee, Goldman Sachs, David Solomon, Read, Morgan Stanley Andrew Burton, Marianne Lake, Jennifer Piepszak, Jamie Dimon —, Lori Beer, Mary Callahan Erdoes, James Gorman, Michael Blann, Jose A, Bacete, Tony Kerrison, Kerrison, Stephen Mandel Jr, Adam Jeffery, NBCUniversal, Shayanne, Lone Pine, Kelly Granat, David Craver, She's, David Byrne, Malcolm Gladwell, Wager, Execs, Michael Miebach's, Wells, Merrill Organizations: Finance, JPMorgan, UBS, Kirkland, Bank of, Jefferies, SVB, Anadolu Agency, Getty Images, York City steakhouse, Getty, Industry, Bank, America's, Silicon Valley Bank and Bank of America, Deutsche Bank, Mastercard, Facebook, & $ Locations: TMT, York, Piepszak, Lone, Silicon
Tony Kerrison, BofA's CTO, will now report directly to Cathy Bessant, the bank's top tech exec. Kerrison, who leads the bank's tech infrastructure, has also expanded his duties. Kerrison, whose focus includes how the bank's technology is architected across the firm, was elevated to Bessant's leadership table last week. Kerrison's role has also expanded to lead core technology infrastructure. Kerrison already leads the TIS organization, which oversees the entire bank's technology infrastructure needs across business lines and regions.
Persons: Tony Kerrison, Cathy Bessant, Cathy Bessant's, Kerrison, Bessant, David Reilly, Merrill Lynch, Howard Boville's, Reilly Organizations: Bank of, Technology, Infrastructure Services, Automation, Bank of America, Barclays, ING, IBM Locations: Bessant, Bank of America's
Relentless Amazon has a new plan to cut worker injuries by 50%
  + stars: | 2021-05-17 | by ( Eric Rosenbaum | ) www.cnbc.com + 0.00   time to read: +9 min
Can that corporate approach which has resulted in so much bottom-line success be applied successfully to workplace injury prevention? Amazon workers, and the world, are about to find out in what could be the largest experiment in workplace safety culture ever undertaken. WorkingWell is not entirely new to Amazon employees, nor is the plan to cut injury rates. Claims that Amazon has high rates of workplace injury have persisted over the years, especially during periods of peak demand, such as the upcoming Prime Day. Reducing work injuries by 50% is possible
Persons: Jeff Bezos's, CHRIS J RATCLIFFE, Atish, Cathy Bessant, Sandeep Mathrani, Estee Lauder, Tracey Travis, Heather MacDougall, Jeff Bezos, Bezos, John Dony, Dony, MacDougall, Deborah Roy, Roy, Organizations: Getty, Amazon, CNBC, Work, Facebook, Bank of America Chief Operations, Technology, , National Safety Council, Safety, American Society of Safety Locations: North America, Europe, U.S, Canada, Alabama
People enter and exit 200 West Street the Goldman Sachs building in New York Brendan McDermid/ReutersInvestment-banking summer-internship offer letters have already begun to go out for 2022 programs. Her fellow Bank of America tech exec David Reilly also spoke to the importance of 5G for edge cloud computing. Yves Herman/Reuters"Allocation via the computer is coming," said one syndicate banker who works at a bulge-bracket investment bank. Samantha Lee/Business InsiderWall Street equity derivatives traders have become a hot commodity, and hedge funds and investment banks have been fighting to hire or retain star volatility traders. Here's what that means for investment banks, according to two top RBC dealmakers.
Persons: Goldman Sachs, New York Brendan McDermid, Boonchai Wedmakawand, Cathy Bessant, Cathy Bessant Bank of America Bank of America's Cathy Bessant, David Reilly, Yves Herman, Samantha Lee, Steve Cohen Point72, Shayanne, Steve Cohen's, Lindsay Patrick, Vito Sperduto Organizations: Finance, Goldman, Reuters Investment, Getty, RBC, of America's, Operations, Technology, Cathy Bessant Bank of America Bank of America's, Bank of America, Reuters, Wall, RBC Capital Markets Bankers Locations: New York
Bank of America Tech Executives See Promise in 5G, 3-D Printing
  + stars: | 2021-05-04 | by ( Sara Castellanos | ) www.wsj.com + 0.00   time to read: +5 min
Bank of America Corp.’s technology executives are interested in championing new initiatives over the next few years using data analytics, fifth-generation wireless networks and possibly 3-D printing, as demand for the bank’s digital services has skyrocketed during the pandemic. Many of those new technology initiatives resulted in the creation of digital services that were in high demand during the pandemic. Erica, the bank’s virtual assistant, has more than 20 million users to date, up from about 10 million at the end of 2019, according to the company. Digital activity among adults in their mid-50s and above had the highest increase during the pandemic, the bank’s executives said. The bank has yet to find a solid use case for blockchain, the record-keeping system behind cryptocurrencies, Ms. Bessant said.
Persons: Erica, That’s, , , Aditya Bhasin, Jason Malo, Mr, Cathy Bessant, Wes Bruer, ” Ms, Bessant, David Reilly, Reilly, Nikki Katz, Sara Castellanos Organizations: of America Corp, Gartner Inc, Bank of America, Bloomberg, Bank of Locations: Charlotte, N.C, Malo, sara.castellanos
Insider finance: Steve Cohen's web of hedge funds
  + stars: | 2021-05-04 | by ( Dan Defrancesco | Jordan Parker Erb | ) www.businessinsider.com sentiment -0.54   time to read: +1 min
Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:We mapped out the more than 80 hedge funds connected to Point72 founder Steve Cohen. Our rising stars of equity research share their best advice for how to launch a career in the industry. Point72; Shayanne Gal/InsiderAn Insider review found more than 80 hedge funds connected to Point72 founder Steve Cohen. See all the hedge funds with Cohen connections here.
Persons: I'm Dan DeFrancesco, here's what's, Steve Cohen, Cathy Bessant, Shayanne, Gabe Plotkin, Jason Karp, Neil Chriss, Cohen Organizations: Finance, Bank of America
Bank of America's Cathy Bessant highlighted the importance of 5G mobile broadband and 3D printing. Fellow BofA tech exec David Reilly also spoke to the importance of 5G for edge cloud computing. Instead, Bessant has her eyes set on two other tech trends: 5G and 3D printing. Wireless service providers say 5G tech, which has now been rolled out in certain areas nationwide depending on the mobile provider, offers both quicker speeds and broader connectivity. As of the first quarter of 2021, Bank of America counts more than 40 million active digital consumer-banking users, the bank said.
Persons: America's Cathy Bessant, David Reilly, Cathy Bessant, Bessant's, Bessant, Merrill Lynch, Reilly, we'd, Howard Boville Organizations: America's, Bank of America, Wall, Bank of, Wireless, Bank, IBM, of America Locations: United States
Jeff Bezos is obsessed with a common Amazon warehouse injury
  + stars: | 2021-04-25 | by ( Samantha Subin | ) www.cnbc.com + 0.00   time to read: +6 min
In this article AMZNAn employee looks for items in one of the corridors at an Amazon warehouse. "If you read some of the news reports, you might think we have no care for employees," Bezos wrote in his letter, released earlier this month. But they also do suffer from MSDs that occur on jobs that include what can be described as robot-like repetition. While common in factory-line workplaces and among first-time workers, they can also occur through sports, desk-work and everyday use. While older workers often suffer wear and tear MSDs, younger workers often try to "tough it out" or fail to understand the risks, Dony said.
Persons: Carlos Jasso, Jeff Bezos, Bezos, Atish, Cathy Bessant, Sandeep Mathrani, Estee Lauder, Tracey Travis, Anna Miller, John Dony, Dony, Andrew N, Pollak, Miller, Jaimo Ahn, Ahn Organizations: Reuters, Amazon, CNBC, Work, Facebook, Bank of America Chief Operations, Technology, Bureau of Labor Statistics, World Health Organization, Washington University School of Medicine, National Safety Council, orthopedics, University of Maryland Medical, University of Michigan Health Locations: Alabama, U.S
Microsoft brain wave activity researchers took a look at our minds on back-to-back virtual meetings and they did not like what they saw going on in there among the gray matter. The research, published on Tuesday, confirmed that back-to-back virtual meetings are stressful. Microsoft is adding a customizable Outlook feature to set shorter meetings as a default and require breaks before another meeting begins. Microsoft has been concerned about engagement as remote work extends beyond a year from the moment last March when the Covid pandemic upended traditional office culture. A Harvard remote work expert recently told CNBC the "vast majority" of companies will exist in a "hybrid state."
Persons: anecdotally, Michael Bohan, Atish, Cathy Bessant, Sandeep Mathrani, Estee Lauder, Tracey Travis, Jared Spataro, Spataro Organizations: Microsoft, CNBC, Work, Facebook, Bank of America Chief Operations, Technology, Harvard
Shows across TV networks began integrating Covid-19 into scripts, including questions about social distancing and masking, as the pandemic spread across the U.S. last March. Using the entertainment industry to relay public health information is not a new phenomenon. Technology companies are doing more to fight vaccine misinformation on social media, one of the primary contributors to vaccine concerns. The announcement came following harsh criticism from lawmakers for enabling the spread of vaccine conspiracies and misinformation on its platform. Television's influenceOngoing studies suggest that what audiences see on television informs their knowledge and attitudes, making it an effective platform to disseminate and relay public health information.
Persons: Hoda Kotb, Craig Melvin, Jenna Bush Hager, Dylan Dreyer, Al Roker, Sheinelle Jones, Kate Folb, showrunners, Neal Baer, Baer, Atish, Cathy Bessant, Sandeep Mathrani, Estee Lauder, Tracey Travis, we've, Ashish Jha, CNBC's Meg Tirrell, Jha, Twitter, Robin Bronk, Ken Resnicow, Resnicow, Linda Ong, Ong, Ong kickstarted, hasn't, Sten Vermund, Arsenio Hall, Danny Trejo, Magic Johnson, Gina Ferazzi Organizations: NBC's, Savannah Guthrie, NBC, NBCUniversal, Getty, Covid, Hollywood, Health, Society, University of Southern, ABC, CBS, Pew Research Center, CNBC, Work, Facebook, Bank of America Chief Operations, Technology, Tuskegee, Foundation, Monitor Survey, Brown University School of Public Health, Harvard School of Public Health, University of Michigan, Creative Coalition, Blacks, Yale, USC's HHS, Ad Council, Yale University School of Public Health, USC, Los Angeles Times Locations: Savannah, U.S, University of Southern California, Michigan, Los Angeles , California
Programming note: The CNBC @Work Summit returns this fall on October 13. Caroline Wanga has grown tired of companies dangling rewards and giving pats on the back to employees who comply with diversity and inclusion initiatives. "It is vital to your business," she said at the CNBC @Work Summit on Tuesday. "You don't get incented for participating in something that's the lifeblood of the future of your organization," she added. Black entrepreneur Richelieu Dennis, founder of beauty company Sundial Brands, bought Essence from Time Inc. in 2018.
Persons: Atish, Cathy Bessant, Sandeep Mathrani, Estee Lauder, Tracey Davis, Caroline Wanga, CNBC's Sharon Epperson, Richelieu Dennis, Wanga, Dennis Organizations: CNBC, Work, Facebook, Bank of America, pats, Essence Communications, Target, Brands, Time Inc, Essence, The New York Times, Times
If President Biden's infrastructure plan makes you first think of hard hats, roads and bridges — maybe in 2021, also wind, solar and electrical vehicles — you have not been paying attention as closely as many working women. Building back better for working parents"Going back to the usual for working parents … it wasn't very good," Porter said. But we've seen ... President Biden he's going to roll out the build roads and bridges, a traditional infrastructure, tomorrow. He said that the infrastructure relating to the care economy is going to be postponed until later, April or May." Lack of access to affordable child care is a major barrier for women, and it reduces participation by women in the labor force.
Persons: Rashida Tlaib, Katie Porter, Cynthia Axne, Rayburn, Tom Williams, Atish, Cathy Bessant, Sandeep Mathrani, Estee Lauder, Tracey Davis, Biden, Porter, CNBC's Becky Quick, We've, we've, Biden he's, Nicole Bateman, Ronald Reagan, Julie Kashen, Nicole Mason, Bateman Organizations: Financial, CQ, Inc, Getty, CNBC, Work, Facebook, Bank of America, California Democratic, Brookings Metropolitan Policy Program, Savings, Kids, The Century Foundation, Institute for Women's, Research Locations: D, Iowa, Brookings, U.S
For CIOs, There’s No Place Like Home (Office)
  + stars: | 2020-12-31 | by ( Jared Council | ) www.wsj.com + 0.00   time to read: +7 min
Newsletter Sign-up CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. “We had to move to get more space and so now I have a home office but still need to remind family that I am working,” she said. “It seems to be working fine for now but I will be very happy when I can return to the office. Peter Settel, enterprise chief technology officer at American Family Insurance said his home office features great views, natural light, bookshelves and his jazz records. Peter Settel, enterprise chief technology officer at American Family Insurance, in his temporary work space at home.
Persons: Jacqui Guichelaar, , Ms, Guichelaar, CIOs, Karen Higgins, Carter, Jahmy Hindman, Mr, Hindman, John, ” Sheri Rhodes, Tim Langley, Hawthorne, Sri Shivananda, ” Edward Wagoner, Jones Lang LaSalle, you’ve, , Wagoner, Ajay Waghray, Jason Conyard, Brian Fox, Fox, Elizabeth Hackenson, David Vidoni, Seth Cohen, Vidoni, Cathy Bessant, Linda Jojo, she’s “, Peter Settel, me, Jared Organizations: Cisco Systems Inc, IT, Webster Financial Corp, Webster Bank, Deere & Co, John Deere, Inc, Hitachi, Hitachi Ltd, Sri, PayPal Holdings Inc, Kodak, candlestick, Jones, Jones Lang LaSalle , Inc, E Corp, VMware Inc, Sonatype Inc, Schneider Electric, Pegasystems Inc, PepsiCo, Bank of America Corp, United Airlines Holdings Inc, PepsiCo Inc, American Family Insurance, jared.council Locations: mohair, Rajasthan, India
CIOs Question a Full Return to the Office
  + stars: | 2020-12-29 | by ( Sara Castellanos | ) www.wsj.com + 0.00   time to read: +3 min
Opinions among CIOs and their employees vary on whether they prefer the physical office or remote work, as the pandemic continues to force more people to work from home. “With some variation by country, our data says that people appreciate how Ford has responded to the pandemic, providing flexibility and additional programs to support people while working remotely. Today, you need to be screened before you go to the office, wear masks when you get there and keep your distance from the limited number of people who can join you. But none of us truly know because we don’t have that option right now, so there is a possibility of change in the future. Experts from the architecture and real-estate industries share how they are getting back to work and what offices will look like in the future.
Persons: Ford, , Jeff Lemmer, Shivananda, Cathy Bessant, Chris Bedi, , Rajavel, Jahmy J, Hindman “, Jason Conyard, J, Hindman, Cesare Salerno, Sara Castellanos Organizations: Ford Motor Co, PayPal Holdings Inc, Bank of America Corp, ServiceNow Inc, Citrix Systems Inc, Deere & Company, Hindman, VMware Inc, , Deere & Co, The Wall Locations: sara.castellanos
CIOs Expect Tech Investments to Climb in 2021
  + stars: | 2020-12-23 | by ( Angus Loten | ) www.wsj.com + 0.00   time to read: +5 min
That is helping tech executives bolster the case to invest in these and other advanced tools, including artificial intelligence, chief information officers and other IT officials say. Newsletter Sign-up CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. Ms. Leibman was one of 45 IT executives who responded via email to CIO Journal’s annual end-of-year questionnaire on technology spending forecasts and other issues. “The pandemic allowed us to justify the business case,” Mr. Mazumder said. Etsy Inc. completed a two-year migration to Google Cloud less than a month before Covid-19 reached the U.S., said Mike Fisher, the online marketplace’s chief technology officer.
Persons: , Maya Leibman, you’re, Leibman, Cathy Bessant, Bessant, Abhijit, Mr, Mazumder, it’s, Gartner, Mike Fisher, Fisher, Mike McNamara, Jacqui Guichelaar, Brian Fox, ” Mr, Fox, Angus Loten Organizations: American Airlines Group Inc, Bank of America Corp, Tata Consultancy, Tata Consultancy Services Ltd, Global, Gartner Inc, Gartner, Etsy Inc, Google, Target Corp, Cisco Systems Inc, Sonatype Inc
How CIOs in 2020 Rallied Their Companies Around Remote Work
  + stars: | 2020-12-18 | by ( Sara Castellanos | ) www.wsj.com + 0.00   time to read: +6 min
“We experienced a sea change in work location almost overnight,” said Ms. Bessant, one of 45 IT executives who responded via email to CIO Journal’s annual end-of-year questionnaire to discuss remote work and other issues. The technology team at Accenture PLC oversaw a major transition to remote work that included a significant increase in audio and video calls. Jeff Lemmer, CIO at Ford, said his team transitioned more than 140,000 people to remote work beginning in January. SurveyMonkey CIO Eric Johnson said he constantly asks employees how his team can make their remote work life easier. More frequent use of cameras during remote meetings has increased productivity and teamwork, said Erik Bailey, CIO at software company Anaqua.
Persons: Cathy Bessant, , , Bessant, Penelope Prett, Jeff Lemmer, Prett’s, Kimberly Anstett, Bruce Daisley, ” Ms, Anstett, Tim Langley, Miro, Eric Johnson, Suresh Kumar, Walmart’s, Erik Bailey, Carol Juel, Karen Higgins, Carter, Mr, Johnson, Sara Castellanos Organizations: Bank of America Corp, , Accenture PLC, Accenture, Microsoft Corp, Microsoft, Ford, Iron Mountain Inc, Twitter Inc, Hitachi Vantara, Hitachi Ltd, Inc, Cisco Systems Inc, Ford Motor Co, Walmart Inc, IT, Webster Financial Corp, Webster Bank, SurveyMonkey Locations: videoconferences, Hawthorne, sara.castellanos
Wall Street firms are putting more resources towards complex forms of machine learning, known as deep learning, a recent survey by Refinitiv found. Financial firms are putting more resources towards using complex forms of machine learning. And that means they'll also need to develop ways to better understand the tech and explain it both internally and to regulators. "As you see that growth in deep learning, and particularly around the text analysis part of deep learning, there's that need to have better explainability," Horrell said. Regulators also want firms to show their work when it comes to AIThe increased use of machine learning has also caught regulators' eyes, Horrell said.
Persons: Refinitiv, Geoffrey Horrell, Horrell, Diane Daley, Read, Cathy Bessant, Morgan Stanley, it's, , Joshua Pantony, we've Organizations: Refinitiv Labs, Business, Bank of America, Citigroup, Harvard's Kennedy, of Government's, Intelligence, Citi, Regulators, European Union, Man Group Locations: London, Bridgewater
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