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The 2016 Tech 50: Antoine Shagoury

The State Street global chief information officer falls to No. 25 on this year’s Tech 50 ranking.

By Peter Vasiliev

July 18, 2016

< The 2016 Tech 50

Antoine Shagoury

Global Chief Information Officer

State Street Corp.

Last Year: 18

After five years as chief information officer of London Stock Exchange Group — the last three also as chief operating officer — Antoine Shagoury joined State Street Corp. last fall as executive vice president and global chief information officer. The 46-year-old succeeded Christopher Perretta (No. 17 last year), who had seen the Boston-based company through a five-year, cloud-oriented technology transformation and this April joined MUFG Americas Holdings Corp. as chief information and operations officer. Late last year State Street put a group of business analysts and technologists together in an emerging technologies center. Its mission is to identify and test technologies that could have a significant and potentially disruptive long-term impact on the firm, which as of March 31 had $27 trillion in assets under custody and administration and $2 trillion under management. “We find ourselves in the center of a perfect storm,” says Shagoury, who before his London stint was CIO of the American Stock Exchange and chief technology officer of Instinet. “Our digital transformation has brought a convergence of technological change and adoption opportunities to build into our future.” The xcenter, as it’s called, is exploring such frontiers as artificial intelligence, autonomic computing and blockchain. State Street has been experimenting with blockchain in internal software development and as a participant in the R3CEV consortium (see David Rutter, No. 18) and the Post-Trade Distributed Ledger Group. “While we’re continuously developing more efficient and secure ways of safeguarding data, as an industry we still rely heavily on human intervention for data processing, which requires time, cost and energy,” Shagoury says. “Ideally, blockchain would give us the ability to offer products to our clients faster and, more importantly, even more securely.”

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The 2016 Tech 50