Barclays names a new Chief Technology Officer to lead strategic change and innovation
Barclays Bank has made a significant move in its ongoing transformation efforts by appointing Shaygan Kheradpir as its Chief Operations and Technology Officer. Kheradpir, a seasoned executive with a strong background in technology and operations, joins Barclays from major global companies like Verizon Communications, Juniper Networks, and Barclays’ US operation.
Role and Background
Kheradpir brings extensive experience leading large-scale technology and operations teams. He is renowned for leveraging technology to improve business efficiency, innovation, and customer experience. Prior to Barclays, he was CTO and President of Verizon’s wireline business and held executive positions managing global technology operations.
Relation to Barclays' Transformation Strategy
Barclays appointed Kheradpir to lead the bank’s operations and technology functions as part of a broader digital transformation strategy. His role is pivotal in modernizing the bank’s technology infrastructure, enhancing operational efficiency, and enabling innovation to stay competitive.
Kheradpir’s appointment signifies Barclays’ focus on integrating technology deeply into its business to support growth, improve customer service, and drive cost efficiencies. He is expected to help Barclays accelerate its move towards digital banking, implement advanced IT systems, and support the bank’s ambition of becoming a more agile, technology-driven institution.
Innovations at Barclays
Kheradpir’s background includes overseeing technological innovations, such as at Barclays with PingIt, the mobile money transfer app. Barclays has also introduced iPads in branches in Portugal, claiming that this has cut the time required to set up a new customer account from 90 minutes to 30.
These technology innovations are part of Barclays' ongoing efforts to improve operational efficiency and effectiveness, a key priority identified in the bank's strategic review.
Significance of the Appointment
The appointment of a group technology executive reflects the significance of technology for Barclays Bank's transformation strategy. It is the first time that an executive with explicit responsibility for technology has sat on Barclays Bank's executive committee.
The appointment comes in the wake of the LIBOR fixing scandal, with the step down of Jerry del Missier, Barclays' previous chief operating officer, in July 2012. Kheradpir will report directly to CEO Anthony Jenkins and sit on the bank’s executive committee.
In summary, Shaygan Kheradpir’s background in technology leadership and transformation aligns closely with Barclays' commitment to evolving its business through technology, making him a key figure in the bank's ongoing transformation efforts.
Technology will play a crucial role in enhancing Barclays' business efficiency and customer experience, as Shaygan Kheradpir, the newly appointed Chief Operations and Technology Officer, will be majorly responsible for modernizing the bank's technology infrastructure and enabling innovation to stay competitive.
With his expertise in leveraging technology for business growth, improved customer service, and cost efficiencies, Kheradpir is expected to help Barclays accelerate its move towards digital banking, implement advanced IT systems, and support the bank's ambition of becoming a more agile, technology-driven institution.
