Sumitomo Mitsui Banking Corporation (SMBC) is busy recruiting a number of MDs from major US and European banks in 2024. The latest addition, an MD from Credit Suisse, is a veteran of engineering management in London.
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Maria Hooton joined SMBC this month as head of cross-product platforms, reporting to the EMEA CIO. She has spent the past nine years in Switzerland, where she most recently served as global head of cross-functional process industrialization engineering platform.
Mr. Hooton joined JPMorgan as ED in 1999 and has served as a banking executive since then. Sumitomo Mitsui Banking Corporation is not his first role at a Japanese bank either. She has worked twice at the Bank of Tokyo-Mitsubishi, most recently as interim director of the Treasury Operations Change Program.
Meanwhile, this is not the first time SMBC has hired a Credit Suisse MD in London, having hired Sabine Chappard in February in 2024. The bank has also recently hired other technology leaders. Samantha Howland joined FCA last month as head of cyber resilience after six years at the firm.
Glassdoor’s 2024 review of SMBC praises its “great, stable atmosphere” and positive work-life balance. Meanwhile, in 2024 Credit He will be working on Swiss technology that will keep him up at night. Transformation efforts have proven costly for Swiss banks, and Sergio Ermotti warned that technological changes in particular could hinder cost reductions. It is not clear whether Mr. Hooton left of his own accord, but the departure of many of Credit Suisse’s engineers does not make matters any easier.
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