While Bi and Analytics are not relatively new concepts for financial services organizations, based on rapidly changing business models, shifting regulatory reforms, the expansion into new markets, and continaully morphing risk management needs, would using just “traditional” BI cut it? Is Big Data a good answer? Is there a compelling business case to escalate from traditional BI to Big Data? What have financial organizations tried with respect to BI transformation and Big Data adoption, in order to meet the new needs of clients?
Charles Costa, head of Global Technology and Operations and Chief Information Officer, J.P. Morgan Asset Management
Charles Costa is head of Global Technology and Operations and Chief Information Officer for J.P. Morgan Asset Management, one of the world's largest providers of wealth and asset management services to institutional, high-net-worth and reta... More View all posts
Charles Costa is head of Global Technology and Operations and Chief Information Officer for J.P. Morgan Asset Management, one of the world's largest providers of wealth and asset management services to institutional, high-net-worth and retail clients. He is a member of the Asset Management Operating Committee, as well as a member of the JPMorgan Chase & Co. Chief Administrative Officer’s management team and the firm’s IT Leadership Team. In managing the technology and operations function supporting the Asset Management business and its clients, Mr. Costa also oversees a number of large-scale efficiency, quality improvement and innovation initiatives that are helping to transform the business. Before assuming his current post in 2008, Mr. Costa led JPMorgan Chase's Global Technology Infrastructure (GTI) organization, one of the largest and most complex technology infrastructure functions in financial services. In this role, he was responsible for enterprise hardware and software; for global Data and Command Centers; for monitoring operations; and for infrastructure technology products and services, utility and hardware infrastructure, and mainframe, desktops and help desks. While in this role, Mr. Costa managed the industry's largest technology insourcing effort to date following the merger of JPMorgan Chase and Bank One in 2004. He also led a multi-year effort in GTI to significantly increase productivity, efficiency, effectiveness and innovation. Before being named GTI CIO, Mr. Costa led Information Technology, Operations, and Productivity and Quality for Chase Financial Services, which included the firm's Retail Bank branches and Credit Card, Middle Market, and Home and Auto Finance businesses. Mr. Costa began his banking career in 1980 as a J.P. Morgan management trainee. In 1983, he joined the Commodity, Technology and Operations group, and by 1990 he was heading J.P. Morgan's Commodity, Swaps & Derivatives, and Emerging Market Operations Group. From 1993 through 1999, Mr. Costa managed Systems Development and Application Delivery for J.P. Morgan's Global Markets activities, headed Quality and Productivity Services globally and led J.P. Morgan's Y2K project. In 2000, Mr. Costa assumed responsibilities as a senior member of the JPMorgan Chase Merger Integration team. Mr. Costa received his Bachelor of Science degree at St. Francis College in Brooklyn, New York, then completed the Executive Management Training Program at Cornell University. In 2003, he was named by CIO Magazine to the list of Top 100 CIOs. He is a co-chair and member of the governing body of the CIO Executive Summit and an advisory board member of Seidenberg School of Computer Science and Information Systems at Pace University. Less View all posts
Dr. Michael Chui, Senior Fellow, The McKinsey Global Institute
Michael Chui is a Senior Fellow of the McKinsey Global Institute. He is based in San Francisco, CA, where he directs research on the impact of information technologies, such as Big Data, Web 2.0 and the Internet of Things, on business and ... More View all posts
Michael Chui is a Senior Fellow of the McKinsey Global Institute. He is based in San Francisco, CA, where he directs research on the impact of information technologies, such as Big Data, Web 2.0 and the Internet of Things, on business and the economy. He has served clients in the High Tech, Media and Telecom industries on strategy, innovation and product development, IT, sales & marketing, M&A and organization. Michael is a frequent speaker at major global conferences and his research has been cited in publications such as the Wall Street Journal, New York Times, Financial Times, Fast Company, Forbes, The Economist, The Times of London, WIRED, and Les Échos. Michael holds a B.S. in Symbolic Systems from Stanford University and earned a Ph.D. in Computer Science and Cognitive Science, and a M.S. in Computer Science, from Indiana University. His Ph.D. dissertation, entitled “I Still Haven’t Found What I’m Looking For: Web Searching as Query Refinement,” examined Web user search behaviors and the usability of Web search engines. Prior to joining McKinsey, Michael served as the first Chief Information Officer of the City of Bloomington, Indiana, where he re-architected the enterprise architecture using Open Source technologies and led a project that resulted in Bloomington becoming the first community in the world to offer both live and archived video streaming of public meetings on the Web. Before that, Michael was founder and executive director of HoosierNet, Inc, a nonprofit cooperative Internet service provider that provided dial-up and broadband access to the Internet to consumers, nonprofits, governments and businesses. Less View all posts