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Citi chief information officer Marty Lippert is promoted Chief Operations and Technology Officer; Fannie Mae CIO Rahul Merchant resigns.
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Marty Lippert Takes On Expanded Role At Citi
As the turmoil on Wall Street continues, making the biggest banks even bigger, Citi has handed its newly arrived chief information officer an expanded mandate.
Marty Lippert, who joined Citi from Toronto-based RBC in July, has been promoted to the role of Chief Operations and Technology Officer. He takes over the position from Kevin Kessinger, who will continue on in an advisory role. As such, Lippert's new job will encompass Citi technology and infrastructure as well as global operations and technology strategy in such areas as legal, finance, administration, and human resources.
Lippert's promotion is one of a number of senior management changes taking place at Citi, which this week agreed to purchase Wachovia's banking business for about $2 billion in a government-backed takeover.
The bank has also gone back to the well at RBC and lured away Anita Sands for the position of managing director and transformation management.
At RBC, Sands was credited with being a leading player in the bank's efforts to adopt Web 2.0 technologies. RBC was one of the first banks to use Facebook to connect with university-aged students and created a site called RBC p2p, an online forum where students could discuss investing and financial issues.
Fannie Mae CIO Resigns
Embattled mortgage company Fannie Mae announced several management resignations over the past week, including that of its CIO Rahul Merchant.
Prior to joining Fannie Mae in November of 2006, Merchant joined Fannie Mae in November of 2006 and was responsible for overseeing all of the company's technology efforts, which included more than a third of the company's work force.
He arrived at Fannie Mae from Merrill Lynch, where he served as head of global business technology.
This report was compiled by Mel Duvall. If you know of other CIOs on the move, please drop him an e-mail at
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