Autumn is upon us, trees are changing colors, and executives are changing jobs.
The job market for digital banking is thriving. JPMorgan plans to hire thousands of people for its technology and digital departments, in addition to an entry-level program to train and nurture young technologists. Bank of America’s Cathy Bessant recently predicted that when it comes to coding and cybersecurity, there will be a deficiency of talent for the years to come. The good news, Bessant said at a recent ABA Conference in New York, is “more jobs means more inclusivity and more diversity.”
This is true even when it comes to positions higher up on totem pole. This season alone there have been some notable shifts. Here are some of hires and departures that grabbed our attention at Bank Innovation.
Michelle Moore Says Goodbye to Bank of America
After 15 years, Bank of America bids adieu to its head of digital banking, Michelle Moore. In this role Moore, who appeared on Bank Innovation’s 44 Innovators list last year, led many milestone projects for BofA from revamping the bank’s ATMs to match the interface of its mobile banking app to launching virtual assistant Erica in April. Currently, Erica has over 3.6 million users.
Under Moore’s reign, BofA saw a consistent increase in its digital users. In its most recent 3Q earnings, the bank showed a 10% YOY increase to 36.2 digital users and 26 million active mobile users.
Moore will step down at the end of the year. David Tyrie, who currently heads BofA’sconsumer and small business products, will take on the role of head of advanced solutions and digital banking. Details on whether the bank will hire someone new to fill Moore’s position remain undisclosed.
According to the Charlotte Business Journal, Moore is stepping down to spend time with her family. She has been with Bank of America since 2003.
JPMorgan Chase Executive Kelly Coffey Takes on the Role of CEO at City National
Last month, City National Bank, a U.S.-based unit of Royal Bank of Canada, announced that the head of JPMorgan Chase’s U.S. private bank business, Kelly Coffey, would be its new chief executive officer.
She will take on that role starting Feb. 1, 2019.
Coffey will be replacing City National’s current CEO of 23 years, Russell Goldsmith, who will continue as chairman at the bank.
Coffey has been the chief executive of JPMorgan’s U.S. private bank business since 2015 and worked with the bank for 30 years. During that time, she served in corporate finance, M&A, equity markets, investment banking and private banking.
At City National, Coffey will not only serve as CEO, but will join the bank’s board as well as chair its strategy & planning committee and its executive committee. She will join the senior management committee of RBC Wealth Management U.S. and the business executive committee of RBC’s intermediate holding company in the United States.
Based in Los Angeles, City National has 72 offices in seven states in the U.S., and has $48.9 billion in assets, according to a company statement.
Payments Veteran Sebastien Taveau Joins Envestnet|Yodlee
Last week, data analytics platform for financial services, Envestnet|Yodlee announced it hired Sebastien Taveau, the chief technologist at bank-backed P2P service Zelle as Vice President of Developer Experience.
Aside from his experience at Zelle, Taveau served as chief developer evangelist for Mastercard and astronomer/principal of mobile ecosystem and technology integration at payments company PayPal.
At Envestnet|Yodlee, Taveau will oversee Yodlee’s newly launched developer experience and foster relationships with the fintech development community.
In a statement emailed to Bank Innovation, Brandon Rembe, senior vice president of products at the company, said of the hire:
Sebastien’s blend of skills, experience and passion for the job are invaluable in our continued commitment to delivering upon our developer first vision and driving industry innovation. His role is also vital in nurturing our important relationship with the fintech community, enabling them to better serve their customers.
Julie Demarigny, a Former Warner Brothers VP, Enters the Financial Services World as Head of Digital Banking at Union Bank
To help keep up with the creative ways other industries are serving consumers, FIs have started to look outside the traditional banking world for talent. That is evident in the case of Union Bank’s new head of Digital Banking, Julie Demarigny.
Demarigny joined the bank in September from the entertainment company Warner Brothers.
In her new role, Demarigny will lead all digital strategy for the bank and its savings-only platform PurePoint Financial, as well as be responsible for growing the bank’s other digital businesses and channels.
“How we can use a technology to better understand their needs and build a best-in-class experience, constantly evolve with the new behaviors but also recreate the trust and deliver the insights they receive at our branches and financial centers,” Demarigny previously told Bank Innovation. “I am amazed by the exceptional quality of the experience at the branches and how our clients trust their bankers and enjoy visiting the branch. I would like to create a digital experience that translates the values of the branches, adding value for those who visit the branch and facilitating every task for those who prefer to use a digital platform.”
Demarigny is based in the Union Bank office in Glendale, Calif. She reports to Pierre P. Habis, head of consumer banking at Union Bank.
Read Demarigny’s full interview with Bank Innovation here.






