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The 2017 Tech 40: Antoine Shagoury

< The 2017 Tech 4026. Antoine ShagouryGlobal Chief Information OfficerState Street Corp.Last year: 25

Digital transformation could be anybody's buzzword these days. It has real substance for State Street Corp., which puts it at the top of the list of business objectives and has been at it for years. An early move to cloud infrastructure, beginning in 2010, was credited with annualized pretax cost savings of more than $625 million by 2014. That predated Antoine Shagoury's 2015 arrival as global chief information officer. Shagoury, 47 — who previously was with the London Stock Exchange Group for five years as CIO and COO, and before that was CIO of the American Stock Exchange and CTO of Instinet — says he is building on and going beyond past initiatives to deliver on the vision of "the digital State Street." Cost efficiencies are still in the equation: In early 2016 the institutional investment manager and servicer, which has $29.8 trillion in assets under custody and administration, projected that Beacon, a new "transformation program to digitize our business, deliver significant value and innovation for our clients, and lower expenses across the organization," would result in $550 million more in annualized savings. The progress toward the expense goal last year was $175 million, well above the $75 million originally estimated.

 The 2017 Tech 40Click below to view profiles
1. Adena FriedmanNASDAQ2. Catherine BessantBank of
America Corp.3. Robert GoldsteinBlackRock4. Jeffrey SprecherIntercontinental Exchange5. Lance UgglaIHS Markit
6. Shawn Edwards & Vlad KliatchkoBloomberg7. David CraigThomson Reuters8. Michael SpencerNEX Group9. Don CallahanCitigroup10. Elisha WieselGoldman Sachs Group
11. Michael BodsonDepository Trust & Clearing Corp.12. Terrence DuffyCME Group13. Charles LiHong Kong Exchanges and Clearing14. Sean BelkaFidelity Investments15. Chris ConcannonCBOE Holdings
16. Guy ChiarelloFirst Data Corp.17. Steven LieblichCitadel18. David RutterR3CEV19. Blythe MastersDigital Asset Holdings20. Alfred SpectorTwo Sigma Investments
21. Neil KatzD.E. Shaw Group22. Lee OleskyTradeweb Markets23. Richard McVeyMarketAxess Holdings24. David GledhillDBS Bank25. Seth MerrinLiquidnet Holdings
26. Antoine ShagouryState Street Corp.27. Peter Brown &
Robert Mercer
Renaissance Technologies28. Lou EcclestonTMX Group29. Peter CherecwichNorthern Trust Corp.30. Mike ChinnS&P Global Market Intelligence
31. Chris CorradoLondon Stock Exchange Group32. Neal PawarAQR Capital Management33. Gary NorcrossFidelity National Information Services34. Steven O'HanlonNumerix35. Sebastián CeriaAxioma
36. Brian ConlonFirst Derivatives and Kx Systems37. Tyler KimMaplesFS38. Michael CooperBT Radianz39. Robert SchifelliteBroadridge Financial Solutions40. Jim MinnickeVestment