Deutsche Bank hires new CIO from Fannie Mae
Boillat is Head of Operations and Technology for the US secondary mortgage market company Fannie Mae, based in Washington. He was previously at Citigroup, where he was responsible for managing and delivering technology for institutional, retail and prime brokerage operations.
The former consultant will start at Deutsche Bank on February 1, 2016 and will be based in New York until the end of the year, when he will move to London.
Hammonds said: "Pascal's technical expertise and experience of implementing change across large teams will further strengthen our technology and operations leadership."
In October Deutsche Bank announced a major restructure and a wide range of executive changes, with COO Henry Ritchotte becoming Chief Digital Officer with the remit of refocusing Deutsche Bank and setting up a new digital bank as part of its 'Strategy 2020' which co-CEO John Cryan said would help the bank "become less risky by modernising its outdated and fragmented technology".
As COO Hammonds will oversee the bank's emergency modernisation and restructure which will see the organisation lose 9,000 of its staff. Deutsche Bank also aims to slash 6,000 of the 30,000 external consultants used by the bank, and will lose a further 19,000 by selling its Postbank subsidiary, its low-profit German retail lender.