Discover your dream Career
For Recruiters

Another top Deutsche Bank technology hire left within months

In theory, Deutsche Bank's technology division is a revitalised place that's moved on from its reputation of being ultra-dysfunctional. In reality, Deutsche Bank keeps hiring senior technology people who keep leaving again.

The latest fleeting DB tech recruit was John Smith. Smith joined Deutsche Bank as head of group architecture from NatWest Markets in March 2021. Four months later, he's leaving again.

Smith is joining IHS Markit's Markitserv post trade derivatives processing business, to work on the new joint venture with the CME Group.  Deutsche Bank declined to comment on his exit.

A highly experienced banking technologist, Smith was quite a catch for Deutsche Bank. He was CIO at NatWest Markets and previously spent two years as a managing director and head of European equities technology at Citigroup, two years in a similar role at Barclays, and nearly 13 years in trading IT at UBS.

Smith isn't the first senior tech person to make an unexpected retreat from Deutsche Bank. Last June, Neal Pawar, the group chief information officer, left after eight months.  In March 2021, Pawar joined Qontigo, a fintech, as COO.

Historically, Deutsche Bank was known for having a teetering technology system based on a mass of disparate code. However, it has been upgrading and simplifying this and says it's recruiting higher calibre technology staff following its partnership with Google. The German bank has also implemented a new risk and pricing system, and notably managed to avoid a large loss during the Archegos meltdown.

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Craig Whitehead on Unsplash

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Latest Jobs
Eames Consulting
Director of Cybersecurity Training and Development
Eames Consulting
Kuala Lumpur, Malaysia
QBE Insurance
Claims Recovery Analyst, Asia
QBE Insurance
Petaling Jaya, Malaysia
Beyondsoft International
SAP PI/PO Consultant - AA
Beyondsoft International
Kuala Lumpur, Malaysia
LMA
QA Test Engineer
LMA
Kuala Lumpur, Malaysia
Charterhouse Partnership Singapore
SVP, Head of Channel Operations (Retail / Consumer Banking)
Charterhouse Partnership Singapore
Kuala Lumpur, Malaysia
Cognizant
SAP ABAP Consultant
Cognizant
Kuala Lumpur, Malaysia

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.