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Story URL: http://www.silicon.com/financialservices/0,3800010322,39296157,00.htm

HSBC in CIO-COO mash-up
When two become one...

By Tim Ferguson

Published: Tuesday 30 September 2008

HSBC is combining its CIO and Group COO roles into a single position, a move that comes as the bank unites technology and global operations in the hunt for cost savings.

The international banking group has appointed current CIO, Ken Harvey, into the newly created role of chief technology and services officer.

Harvey will assume the new post on 1 October and report directly to chief executive, Michael Geoghegan.

Geoghegan said by combining tech and global operations, the bank can create cost efficiencies.

A spokesman for the bank added: "By bringing together IT and operations, we can further enhance the customer experience of HSBC and at the same time improve the efficiency with which we do that. For example, by standardising platforms and simplifying process interfaces, there will be more time to train staff in the softer skills in addressing customer needs."

Harvey joined HSBC in 1989 and became CIO in 2004, assuming responsibility for an annual IT budget of almost $5bn and developing and implementing the bank's tech strategy. Harvey was also voted into silicon.com's CIO50 in 2007.

Current Group COO of HSBC Holdings, David Hodgkinson, will retire at the end of the year after a 39-year career.

In other news, HSBC recently boosted its green credentials by achieving an excellent rating from the Building Research Establishment's Breeam Certification for its new data centre in North London.