London-based Crown Agents Bank has hired Richard Weald as its first-ever chief technology officer (CTO) as part of its strategy to digitalise its services as a transaction bank.
Weald was previously global head of IT operations and information security at Earthport, a forex and cross-border payment services provider in London.
He brings more than 20 years’ experience in financial markets to his new role in which he will oversee the bank’s use of technology to align and enhance operational processes, client due-diligence and on-boarding, risk management and product strategy.
He will be tasked with outlining a long-term technology roadmap for delivering the digital processes and solutions the bank’s stakeholders and customers require.
Weald says of his new position: “Digitalisation helps us achieve our goal of securely expanding our commercial and central bank clients’ access to global markets and developing greater connectivity within and across borders. I am excited to play a part in the bank’s ongoing transformation.”
The bank has recently joined CCRManager, the electronic platform for the distribution of trade finance assets. It has also rolled out EMpowerFX, which the bank’s CEO Albert Maasland says is “technology that allows us to offer currencies and FX payments in and out of a range of frontier and emerging markets quickly and efficiently”.
Of the CTO appointment, Maasland says: “With Richard’s expertise, we can improve the customer experience yet further, grow volumes, and improve operational efficiency and compliance procedures.”
Weald’s past experience includes a number of senior positions within technology and information Security at Newedge, a global multi-asset brokerage.