Citi Institutional Clients Group (ICG) CIO, Steve Randich, says,  “It used to be that you would add hardware or tweak the software to get improvements in throughput. Now it is much more the case where hardware accelerators – either on the network or in the actual chip technology- are going to become the means to stay ahead of the volume curve.” in an article published by WatersTechnology.

Highlights of the article published by WatersTechnology.

• What drew him to Citi was its “globality” and breadth of products
• Gone from being a middle-of-the-road IT organization to being, in many cases, best-in-class
• First major move was to build the technology organization from a product standpoint as opposed to Citi’s traditional regional and local country focus. It was a significant political change since people have to take their direction & leadership from product heads in New York and London.
• Considers the most important part of  job  is to be make sure of having right leadership team and the right talent in the organization,
• Change the  order-taking mentality.
• Regulations have significant impacts on the IT agenda.
• The new major focus is the need to remain efficient “front-to-back“
• Ability to convert marginal cost of converting a trade to close to zero is a requirement for survival
• to ensure that the firm is serving the clients with a common front-end platform (across asset classes)
• wants to focus more closely on middle-market clients in emerging markets.
• The next big thing is hardware Accelerators

About Steve Randich

Work

• 2005 till date CIO, Citi, ICG
• 2001 – 2005 CIO, NASDAQ (EVP of Ops & Tech, responsible for all aspects of NASDAQ’s technology, including applications development and technology infrastructure, as well as NASDAQ’s Market Operations)
• 2000 – 2001 CTO, NASDAQ
• 1996 – 2000 EVP & CIO, Chicago Stock Exchange, responsible for all technology, trading-floor and back-office operations, and business product planning and development.
• 1989 – 1996 Managing Principal at IBM Global Services
• 1984 – 1989 Manager at KPMG.

Education

• 1980 – 1984 B.S. in Computer Science from Northern Illinois University
• 1990 – 1994 M.B.A. with concentration in Finance from the Univ of Chicago, Graduate School of Business

Note : Accuracy of the above information is not guaranteed. However, information is gathered/researched from publicly available and reliable sources.