Dive Temporary:
- State Road Company tapped Andrew Zitney to function EVP and CIO, efficient this week, the financial institution informed CIO Dive on Thursday.
- Zitney, a State Road veteran, served for 5 years because the financial institution’s CTO and have become interim CIO following the departure of Brian Franz, who moved to The Estée Lauder Firms, the place he now holds a management place as chief know-how, knowledge and analytics officer.
- “Andy brings intensive expertise and experience main cutting-edge know-how and driving transformation, underscoring our dedication to advancing our know-how, supporting enterprise development and fostering innovation via accountable AI,” State Road COO Mostapha Tahiri mentioned Wednesday on LinkedIn.
Dive Perception:
The management change comes amid seismic shifts in monetary sector know-how technique triggered by AI adoption and ongoing modernization at State Road.
The financial institution prioritized investments in AI and automation technologies three years in the past, after launching a cloud-based, wealth-management data platform leveraging Microsoft Azure infrastructure in 2020. State Road additional expanded its cloud property and streamlined its knowledge middle footprint as a part of a 2023 AWS alliance.
Digital transformation stays entrance and middle for the agency, executives mentioned Tuesday, in the course of the financial institution’s Q2 2025 earnings call Tuesday, for the interval ending June 30.
“We proceed to put money into know-how and infrastructure to modernize our platforms whereas enhancing knowledge supply and person expertise,” Mark Keating, State Road EVP and interim CFO, mentioned.
The financial institution’s info techniques and communications bills elevated 11% 12 months over 12 months in the course of the second quarter to $523 million, in response to Keating. Throughout the identical three-month interval, State Road noticed annual recurring income for its cloud-based platform develop 10% 12 months over 12 months to $379 million.
“We’re happy with our ongoing success in transitioning shoppers to our cloud-based SaaS platform,” mentioned Keating.
As CTO, Zitney oversaw infrastructure, engineering, enterprise structure and end-user expertise, in response to the bank’s website. Previous to his appointment to CIO, the financial institution printed a report highlighting the significance of unlocking legacy knowledge for contemporary AI functions.
“Institutional traders are at a pivotal second of their knowledge transformation journey,” Joerg Ambrosius, president of funding providers at State Road, mentioned in the June report. “What our analysis confirms is {that a} holistic knowledge technique is now not a aggressive benefit — it’s turning into a baseline expectation.”
