Ex-HSBC operations chief picked as Thought Machine’s new chair

By Oliver Smith on Monday 28 September 2020

Digital Banking

Andy Maguire will take over the role immediately.

Ex-HSBC operations chief picked as Thought Machine’s new chair
Image source: Andy Maguire/Thought Machine.

Banking tech provider Thought Machine has announced its new chair, with the departure of long-serving board member and chair Richard Little.

Former HSBC Group chief operations officer Andy Maguire will take over the role immediately, with Maguire joining Thought Machine in the wake of its $125m two-part Series B round earlier this year.

“Andy’s skill set and experience in driving HSBC’s infrastructural and operational strategy will be critical in creating material value for the business,” said Thought Machine’s CEO and founder Paul Taylor on his appointment.

“As the world navigates the new economic environment, resilient and agile core banking infrastructure has never been more important to banks needing to adapt and serve customers.”

Thought Machine has been aggressively hiring during lockdown and throughout 2020, adding more than 150 new employees and with the recent addition of Nicole Jude as chief people officer

By the end of 2020, Thought Machine expects to reach a headcount of over 500.

Read more: Thought Machine’s Paul Taylor – ‘Events like this will push banking into the cloud’

"With its recent funding, and acceleration of international hiring, the company is ready for its next stage of global growth. I am delighted to be joining Thought Machine as it expands its footprint to new markets, grows its revenue, and demonstrates that modern core banking infrastructure is a strategic imperative for 21st century finance," said Maguire on his appointment.

Thought Machine was set up in 2014 by Taylor, a former Google engineer, and its clients include Lloyds Banking Group, Atom Bank and Standard Chartered, which use its cloud banking platform Vault.

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