Looking back, this CIO finds that it doesn't pay to be cautious when driving change.
John Burns Managing Director of Credit Suisse and CIO of Credit Suisse Investment Bank
Career accomplishment I'm most proud of: When I was the Asia-Pacific CIO, working out of Hong Kong, we successfully delivered Credit Suisse's global equity platform throughout the region--from Australia to Mumbai. It proved to be a real lesson in how if you stick to a strategy, you can achieve a lot.
Most important career influencer: Many people have had an impact on my career. One in particular was Steve Landles, who was my manager when I was a consultant at a U.K. professional services firm. He taught me a lot about the value of being able to think on my feet and problem solve under pressure.
Decision I wish I could do over: I've been lucky in this respect. There are some instances, though, where I regret decisions I didn't make. In general, I've found it's wrong to be cautious when driving change. There are moments where I wish I'd made bold decisions sooner--for example, around the implementation of a new operating model and organization.
Advice for future CIOs: Stick to the plan--your plan. It's a volatile world, and you have to deal with the unexpected. That doesn't mean that you shouldn't pursue what you believe is right. The events of the day are unlikely to disprove the rightness of your plan.
What the last few years have taught us ... is that the need for very robust solutions supporting very accurate and critical information is absolutely paramount. This isn't just an IT issue, but from an IT perspective, we have to focus on supporting critical functions--the ones that if they go wrong, threaten the life of the firm.
The next big thing for my business will be ... the increasing convergence in the way business is transacted. We've been very siloed because our products and business are diverse, but there's more and more commonality in the way business is transacted, and electronic trading is becoming more common across all asset classes. We're moving toward a core platform that provides scalability and adaptability, and does it all efficiently and with low touch.
On The Job
IT budget: Nearly $1 billion
Size of IT team: Approximately 4,000+ employees
Deploy new front-to-back platform for over-the-counter derivatives business. This is being developed in-house, rolled out in phases, and should be completed by the end of the year. It covers risk management, trade capture, trade life-cycle management, and downstream feeds to risk and finance systems.
Invest in electronic distribution of flow fixed income products as part of our client-focused capital-efficient strategy. This will involve upgrading the IT systems that price, trade, and risk manage these products, together with improving the performance and scope of our connectivity to market venues.
Improve efficiency and control of securities system. We're moving it off of a mainframe platform to a consistent global process addressing control weaknesses and driving efficiency.
Colleges/degrees: BA in economic and social history from University of Sheffield; MSc in operational research from University of Strathclyde
Favorite sport: Running
Favorite pro team manager: Jock Stein of the Glasgow Celtic Football Club
Best book read recently: 1918: A Very British Victory, by Peter Hart
Smartphone of choice: iPhone
Last vacation: Italy
Personal computer: MacBook Pro
If I weren't a CIO ... I'd have tried my hand at acting
The Business of Going DigitalDigital business isn't about changing code; it's about changing what legacy sales, distribution, customer service, and product groups do in the new digital age. It's about bringing big data analytics, mobile, social, marketing automation, cloud computing, and the app economy together to launch new products and services. We're seeing new titles in this digital revolution, new responsibilities, new business models, and major shifts in technology spending.