Sumitomo Bank To Get IT Revolution; Trading Room Overhaul To Follow
TECHNOLOGY MANAGEMENT
NEW YORK--Sumitomo Bank has embarked upon a revolution of the bank's overall IT infrastructure that will eventually mean changes for the bank's trading rooms across the globe, says Peter McCormick, the new CIO of Sumitomo Bank.
McCormick has a mandate from Tokyo to overhaul the bank's overarching, nearly 25-year-old, inflexible infrastructure, especially the back office functions. Based in New York, McCormick last month left his New York branch manager post at the West Merchants Bank, the
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