HSBC hired a new cloud CTO from Citi as AI layoffs loom
Cloud infrastructure isn't the hot topic that it was at the turn of the decade, but it's only becoming more important as banks adopt AI. HSBC, which signed an agreement with AI lab Mistral in December, just hired a new MD from Citi to lead its cloud engineering teams.
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Paul McMahon joined HSBC in London as its CTO head of cloud engineering. He spent two and a half years at Citi, where he was head of cloud for architecture, engineering, product management and scaled adoption. He was also previously a cloud MD at Credit Suisse.
McMahon has an unusual background. According to his profile, he has dyslexia, which meant that he "left school with little academic qualification." He spent his early career as a contract technologist at Barclays, then Cazenove. He then spent an extended period of time away from finance, which included a stint as chief cloud architect at BP.
It's not clear whether McMahon's role is newly created. HSBC has several cloud leaders already, including Mark Bryant, head of engineering for digital and cloud services.
Cloud engineers in finance told us earlier this year that they've been getting a lot less attention from recruiters over the past few years, but the AI race is making them more valuable. This is good news for cloud staff, but less so for up to 20,000 other HSBC employees; in March, the bank announced plans to cut that many roles within the next three to five years using AI.
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