Former HSBC Group COO Andy Maguire becomes Chair of Thought Machine - FinanceFeeds

Former HSBC Group COO Andy Maguire becomes Chair of Thought Machine

Maria Nikolova

Mr Maguire’s appointment comes at a time of significant momentum for Thought Machine, which recently closed its series B round at $125 million.

Cloud native core banking technology company Thought Machine today announces the appointment of Andy Maguire as Chair.

Mr Maguire, former Group Chief Operating Officer of HSBC, joins Thought Machine effective immediately. At HSBC, he led the bank’s IT, business operations, change support, procurement and real estate services. Prior to HSBC, Mr Maguire was Boston Consulting Group’s managing partner for the UK and Ireland, and a member of their global executive committee.

Mr Maguire’s appointment comes at a time of significant momentum for Thought Machine, which recently closed its series B round at $125 million. Furthermore, Thought Machine has added more than 150 employees in 2020 and has made a number of key senior hires in the second quarter of 2020 including Nicole Jude as Chief People Officer. She recently led HR and people functions at Diligent Corporation and Bloomberg.

The appointment of Mr Maguire happens against the backdrop of banks around the world increasingly demanding future-proof core banking infrastructure. Thought Machine pursues its internationalisation strategy, hence it is strengthening its board with Mr Maguire’s experience in driving banking transformation at HSBC, a world-leading financial institution serving more than 40 million customers in more than 64 countries.

Mr Maguire will take over from Richard Little, software entrepreneur, angel investor and non executive director in software and technology businesses. Mr Little has chaired Thought Machine since 2016, overseeing its growth from 40 employees to more than 400 today.

Founded in 2014 by Google engineer Paul Taylor, Thought Machine is delivering cloud native core banking technology to leading banks around the world. Currently Thought Machine names Lloyds Bank, Standard Chartered, Atom bank and SEB as customers.

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