< The 2014 Tech 50: Moving Out of the Lab and Into the Cloud
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Christopher Perretta
Chief Information Officer
State Street Corp.
Last year: 30
State Street Corp. embarked on its Business Operations and Information Technology Transformation program in 2010. Essentially a conversion to cloud computing architecture, such a radical overhaul might have given others pause at that earlier phase of the now-hot IT trend. To executive vice president and CIO Christopher Perretta and the senior managers and board members who signed off on the plan, it was a necessary step toward becoming a digital enterprise. That means “more than just automating things,” says Perretta, a former GE Capital executive who joined State Street in 2007. Now the objectives are more about flexibility and efficiency in managing data, extracting business intelligence and seizing opportunities — not to mention navigating regulatory changes in more than 100 jurisdictions. “The challenge for us is to abstract the capabilities that we need for both internal and external purposes, to leverage those investments across multiple domains,” the 56-year-old adds. “It’s an exciting time because the limitations you used to have you don’t have anymore.” In dollar terms, cloud computing is paying dividends: Boston-based State Street, which has $27.5 trillion of assets under custody and administration, and $2.4 trillion under management, expects cumulative pretax savings from the transformation program to approach $550 million by year-end.
The 2014 Tech 50
| 1 | 1 | 3 | 4 | 5 |
| Thomas Secunda Bloomberg | Jeffrey Sprecher Intercontinental Exchange | Catherine Bessant Bank of America Corp. | Stephen Neff Fidelity Investments | Lance Uggla Markit |
| 6 | 7 | 8 | 9 | 10 |
| Robert Goldstein BlackRock | David Craig Thomson Reuters | Phupinder Gill CME Group | Anna Ewing NASDAQ OMX Group | R. Martin Chavez Goldman Sachs Group |
| 11 | 12 | 13 | 14 | 15 |
| Deborah Hopkins Citi Ventures | Dan Mathisson Credit Suisse | Daniel Coleman KCG Holdings | Michael Spencer ICAP | Michael Bodson Depository Trust & Clearing Corp. |
| 16 | 17 | 18 | 19 | 20 |
| Joe Ratterman BATS Global Markets | Dominique Cerutti Euronext | Ron Levi GFI Group | Gaurav Suri D.E. Shaw Group | Charles Li Hong Kong Exchanges and Clearing |
| 21 | 22 | 23 | 24 | 25 |
| Lou Eccleston S&P Capital IQ | Lee Olesky Tradeweb Markets | Richard McVey MarketAxess Holdings | Seth Merrin Liquidnet Holdings | Antoine Shagoury London Stock Exchange Group |
| 26 | 27 | 28 | 29 | 30 |
| Christopher Perretta State Street Corp. | Kevin Rhein Wells Fargo & Co. | Peter Carr Morgan Stanley | Hauke Stars Deutsche Börse | Robert Alexander Capital One Financial Corp. |
| 31 | 32 | 33 | 34 | 35 |
| David Gershon SuperDerivatives | Chris Corrado MSCI | Joseph Squeri Citadel | Tanuja Randery BT Global Services | John Bates Software AG |
| 36 | 37 | 38 | 39 | 40 |
| Gary Scholten Principal Financial Group | David Gledhill DBS Bank | Simon Garland Kx Systems | Cristóbal Conde FinTech Innovation Lab | Jeff Parker EidoSearch |
| 41 | 42 | 43 | 44 | 45 |
| Kim Fournais & Lars Seier Christensen Saxo Bank | Kenneth Marlin Marlin & Associates | Tyler Kim MaplesFS | Jim McGuire Charles Schwab Corp. | Jim Minnick eVestment |
| 46 | 47 | 48 | 49 | 50 |
| Steven O’Hanlon Numerix | Sebastián Ceria Axioma | Yasuki Okai Nomura Research Institute | Niki Beattie Market Structure Partners | Mas Nakachi OpenGamma |
