2 May, 2016, London: Parker Fitzgerald (PFG), the specialist management consultancy, today announces the appointment of Patrick Gormley to its Executive Board. Patrick will lead the firm’s Global Digital Practice focussing on development of new services to enable the transformation of financial institutions in area of risk management and regulatory compliance through digital innovation, robotics, artificial intelligence and new technologies such as blockchain.
Patrick joins PFG from Capco, where most recently he was Managing Partner of the Global Digital Practice, based in New York. Prior to this, Patrick held the position of Chief Operating Officer of Capco after joining from Accenture.
Patrick’s appointment comes as PFG looks to strengthen its Digital offering in direct response to the growing need for firms to leverage new technologies to transform their organisations and the way in which they manage risk in a post digital-era.
Scott Vincent, CEO of Parker Fitzgerald, said:
“Digital transformation is a significant opportunity for banks, but it does not come without risk. New digital technologies and the increasingly interconnected nature of financial services presents a number of new strategic and operational challenges for firms that, go beyond cyber, and will need to be carefully managed.
Innovation, and the effective management of digital risk will play a pivotal role in the future of banks and their ability to deliver respectable returns to investors. Patrick has a wealth of experience in this area and a proven track record transforming the organisations of the world’s largest and most complex financial institutions. His knowledge and leadership will be absolutely invaluable to both us and our clients”
Patrick Gormley, Global Practice Leader – Digital, said:
“As the financial services industry goes digital, it’s becoming ever more important to avoid mismatches between the vulnerabilities of the sector, business models and their risk management capabilities. Businesses that exploit the opportunities of the digital economy must also integrate appropriate risk management capabilities.
“At a time when this is such a prevalent and dynamic issue for the sector, I am delighted to be leading Parker Fitzgerald’s Digital practice, which will provide invaluable insight and advice to organisations as they navigate operational, technical and regulatory challenges posed by digital transformation.”
Parker Fitzgerald, which was founded in 2009 in direct response to the Global Financial Crisis, has been pioneering the approach towards the management of digital risk within the sector and is actively advising the boards of several banking groups, asset managers and regulatory authorities on how digital risk should be tackled at both the firm, industry and systemic level.
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