Scott Marcar has been appointed CIO for the Corporate and Investment Bank (CIB) division of Deutsche Bank, the financial services giant has confirmed. Marcar has been with Deutsche Bank since 2014 having joined the bank from the troubled RBS.
Deutsche Bank told Horizon that Marcar took on the CIO role the corporate and investment bank on September 1, 2017, moving over from the role of CTO. Marcar is reporting to the COO of the corporate and investment bank Peter Wharton-Hood, but also has a dotted reporting line to Pascal Boillat, the Group CIO of Deutsche Bank.
As CIO for this division Marcar will be on the bank’s executive committee. Deutsche Bank said Marcar has been responsible for “modernising the bank’s infrastructure”.
“Marcar brings an in-depth understanding of IT infrastructure and software development. This will be very beneficial as we continue with our front to back integration and journey with the Group CIO to integrate with Treasury, Finance and Risk, technologies and data,” a Deutsche Bank spokesperson told Horizon. “Marcar will drive the build-out of our technology capabilities across CIB, meet the evolving needs of our clients and regulators, and drive engineering excellence.”
In December 2016 CIO of banking rivals UBS Paul McEwan told Horizon that infrastructure investments were a key strategic focus for the banks as they invest in technologies that will make a significant difference to their customers and business model.
Marcar is a banking veteran, he was with RBS for seven years as CIO of corporate and institutional banking before joining Deutsche Bank. Prior to his career with RBS Marcar was with US bankers JP Morgan Chase running technology for the emerging markets division.
Deutsche Bank said it will make an announcement on Marcar’s successor as CTO and that the technology heads across the CIB division will report to Marcar.