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The 2016 Tech 50: Stephen Neff

The Fidelity Investments Enterprise CEO drops to No. 11 on this year’s Tech 50 ranking.

Stephen Neff
Enterprise Chief Technology Officer
Fidelity Investments

With an early-adopting heritage that includes a mainframe computer installation in 1965, an Internet home page in 1995 and today a global technology staff of 10,000 with a budget of $2.5 billion, Fidelity Investments has the organizational DNA and bandwidth to be aggressive in research and development. The R&D engine is a subsidiary, Fidelity Labs, which according to its website has “graduated” such products as Fidelity Watchapp for Pebble and FidSafe for document storage, and is beta-testing Fidelity Market Monitor for Google Glass and data visualizations for limit orders and watch lists. Artificial intelligence, big data, security and open source are key innovation areas, and the mantra is “scan, try, scale,” says Stephen Neff, 64, the Boston-based asset management giant’s enterprise CTO since January 2013. A 20-year Fidelity veteran who previously worked for Salomon Brothers and IBM Corp., Neff says cloud computing, which Fidelity began working with internally about five years ago, is today’s highest-impact technology. “It really allows for major transitions that are going on now in the industry, such as digitalization of human services,” he explains. “Regardless of what channel it comes on — mobile apps or wearables such as Apple Watch — our customers expect that we have total knowledge of their past transactions readily accessible. Cloud, digitalization and personalization are game changers.” Talent being ever more critical to the technology mission, Fidelity’s recruitment program, Leap, now in its seventh year, has broadened to include liberal arts graduates in addition to STEM (science, technology, engineering and mathematics) majors. The program has a five-year retention rate of 80 percent. “It’s one of the many ways we’re looking for a diverse workforce that reflects what our customers look like,” Neff says.

Visit The 2016 Tech 50: Making Financial Services Faster, Cheaper, Bigger for more.

The 2016 Tech 50
1. Catherine
Bank of America Corp.
2. Jeffrey Sprecher
Intercontinental Exchange
3. Lance Uggla
4. Phupinder Gill
CME Group
5. Shawn Edwards and Vlad Kliatchko
6. R. Martin Chavez
Goldman Sachs Group
7. Robert Goldstein
8. Adena Friedman
9. Deborah Hopkins
Citi Ventures
10. Daniel Coleman
KCG Holdings
11. Stephen Neff
Fidelity Investments
12. David Craig
Thomson Reuters
13. Michael Spencer
14. Michael Bodson
Depository Trust & Clearing Corp.
15. Charles Li
Hong Kong Exchanges and Clearing
16. Chris Concannon
BATS Global Markets
17. Blythe Masters
Digital Asset Holdings
18. David Rutter
19. Neil Katz
D.E. Shaw & Co.
20. Lee Olesky
Tradeweb Markets
21. Richard McVey
MarketAxess Holdings
22. Seth Merrin
Liquidnet Holdings
23. Robert Alexander
Capital One Financial Corp.
24. Brad Katsuyama
IEX Group
25. Antoine Shagoury
State Street Corp.
26. David Gledhill
DBS Bank
27. Lou Eccleston
TMX Group
28. Andreas Preuss
Deutsche BÖrse
29. Dan Schulman
PayPal Holdings
30. Scott Dillon
Wells Fargo & Co.
31. Mike Chinn
S&P Global Market Intelligence
32. Craig Donohue
Options Clearing Corp.
33. Gary Norcross
Fidelity National Information Services
34. Steven O'Hanlon
35. Sebastián Ceria
36. Michael Cooper
BT Radianz
37. Tyler Kim
38. Neal Pawar
AQR Capital Management
39. David Harding
Winton Capital Management
40. Chris Corrado
London Stock Exchange Group
41. Brian Conlon
First Derivatives
42. Jim Minnick
43. Stephane Dubois
44. Mazy Dar
45. Yasuki Okai
NRI Holdings America
46. Kim Fournais
Saxo Bank
47. Jock Percy
48. Robert Schifellite
Broadridge Financial Solutions
49. Brian Sentance
Xenomorph Software
50. Pieter van der Does

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