Planned IBM spinoff Kyndryl names former CIO of London Stock Exchange its chief technology officer | WRAL TechWire

Planned IBM spinoff Kyndryl names former CIO of London Stock Exchange its chief technology officer

Planned IBM spinoff Kyndryl names former CIO of London Stock Exchange its chief technology officer

Kyndryl logo

RESEARCH TRIANGLE PARK – Kyndryl, IBM’s planned managed infrastructure spinoff company, has named Antoine Shagoury, a venture partner at Ridge-Lane LP and the former CIO of the London Stock Exchange, its chief technology officer.

“Antoine Shagoury is an experienced global leader with significant expertise in mission critical systems and operations, who will direct our technology strategy and investments to advance the vital systems that power progress for our customers,” said Elly Keinan, group president of Kyndryl, in a statement.

Image: Kyndryl CTO Antoine Shagoury. Source: IBM.

Kyndryl could become its own entity as soon as the end of this year,

Ridge-Lane LP is a strategic advisory and venture development firm that targets education, sustainability, and information technology. Prior to this role, Shagoury served as an executive vice president and global chief information officer at State Street Corporation and also served on State Street’s management committee.  According to a statement issued by Kyndryl, in this role, Shagoury was responsible for managing enterprise-wide technology, transformation and modernization, and supported operations in 27 countries.  Shagoury was also previously the group chief operating officer and CIO at the London Stock Exchange Group, responsible for global operations across capital markets and information and data services.

Durham native, UNC graduate to be CIO at IBM spinoff Kyndryl

With the announcement of Shagoury as CTO, Kyndryl also said that it would form an advisory board, and named its first member, Vic Bhagat, formerly the CIO at Verizon Enterprise Solutions.

Bhagat has been senior vice president and chief information officer of Verizon Enterprise Solutions, executive vice president and chief information officer of EMC, and as CIO for GE Aviation Services, CNBC, GE Corporate, and GE India and Southeast Asia. Bhagat is also an investor in startups focusing on artificial intelligence and machine learning.

“The Kyndryl Advisory Practice will be a unique capability combining deep expertise and insights for our customers,” said Keinan.

IBM to name spinoff company Kyndryl – here’s what it means

Kyndryl, which takes its name from “kyn” and “dryl” and was chosen to guide the spinoff’s purpose in advancing human progress, together, is likely to include IBM employees and operations in the Triangle.

The firm’s headquarters will be located in New York City, according to prior reporting from WRAL TechWire.

“The decision to base our corporate team in one of the world’s most vibrant and global urban centers underscores our commitment to the economic health of cities,” said Martin Schroeter, Chief Executive Officer of Kyndryl, in an April announcement.

According to IBM, as of April 2021, Kyndryl would include some 90,000 employees and launch with a client base that includes 75 Fortune 100 companies.

IBM employs thousands of people across North Carolina, operates one of its largest campuses in RTP, and owns Raleigh-based Red Hat.