Revolving door and poor leadership in some technology groups
Pros
Top-tier bank that escaped the financial crisis relatively unscathed and is growing
Cons
Commodities technology in particular is a mess. Lot's of leadership changes and a seeming inability to commit to a strategy for longer than 1 year. The lack of tenure extends to all levels so there is a real lack of knowledge about the existing systems with very few people remaining who have been at the bank longer than a couple of years. Firmwide technology control processes are so arduous that it sometimes takes more time to complete the bureaucratic procedures for getting a change into production than actually implementing the change. As a result, the change control group can pat themselves on the back for a "stable production environment" but there is little forward progress in terms of significant technology delivery to the business. As a result the front office have isolated themselves from technology and survive mainly on a spreadsheet based infrastructure and are unwilling to invest in the cleanup that is needed in the legacy fragmented technology systems. Technology is becoming a graveyard of legacy system support.
