Deutsche Bank chooses Pioneer boss for MD role

Deutsche's new MD will be involved in the bank's programme which has objectives to reduce the workforce by 9,000 full time positions and cut 6,000 external contractors.

Deutsche Bank has recruited Pioneer Investment’s global chief technology officer as managing director and head of the core technology group within COO Asset Management.

John Burns will be a key figure in the bank’s cost saving ‘Strategy 2020’ initiative which aims to reduce the workforce by 9,000 full time positions and cut 6,000 external contractors in the Global Technology and Operations infrastructure function.

As part of the ambitious initiative the bank also plans to ‘modernise outdated IT architecture by reducing operation systems and replacing hardware and software applications.

Burns is vastly experienced, having worked for the past four and a half years as global CTO at Pioneer Investments.  He has been with the Pioneer Investments group since 1999, working at a host of offices across Europe, including Dublin, Berne, London and Munich.

During the time spent in his last role at Pioneer, Burns oversaw the global roll out of BlackRock’s analytics Aladdin platform across all hubs.

A spokesman for Deutsche Bank declined to comment on the appointment. Burns did not respond to a request for comment.

When Deutsche Bank’s Strategy 2020 programme was originally unveiled last year, the bank said it is hoping to eliminate 90 legal entitles and close onshore operations in 10 countries: Argentina, Chile, Mexico, Peru, Uruguay, Denmark, Finland, Norway, Malta and New Zealand.

Pioneer Investments has since promoted its US head of technology to global chief technology officer.  Michael Nadeau will now be responsible for all technological decisions in the business.