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BofA appointment signals importance of enterprise tech strategy

August 25, 2004

Information Week: Bank of America Corp. this week named Barbara Desoer as chief technology, service, and fulfillment executive. Desoer, who will report to president and CEO Ken Lewis, formerly headed the bank's consumer-banking business. She will lead strategy development and execution for the bank's technology platforms and fulfillment capabilities, including ATMs, call centers, consumer-risk operations and its Latin American business. She'll also lead development and implementation of the company's payments strategy. Desoer becomes CIO in deed if not in title, says a Bank of America spokesman. The fact that Desoer has been given both CIO and business-line responsibilities -- and that she reports directly to Lewis -- signifies the emergence of IT as a key business area instead of merely a support role. Her appointment also marks a move toward an enterprise strategy, one which analysts expect to be increasingly adopted by large financial institutions.

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