Cheri McGuire has been named CISO of Standard Chartered bank, reporting to Group CIO Michael Gorriz.
In her new role, McGuire's responsibilities will include cyber security governance, strategy, regulatory engagement, policy development, training and awareness, as well as industry stakeholder partnerships. She will also be accountable for the Bank’s information security monitoring, third party risk management and vulnerability assessments. She will also become a member of the Bank’s information technology and Operations Management Team.
“At Standard Chartered, information protection and cyber security are our top priorities," said Gorriz in a statement regarding the appointment. "I’m very pleased to welcome Cheri McGuire, an accomplished technology executive, to Standard Chartered Bank. She brings with her more than 25 years of experience in industry and government roles and will be a valuable addition to our team.”
McGuire's appointment comes at a time of upheaval and transformation at the bank, according to the Wall Street Journal. "Standard Chartered has replaced its executive team and much of its board since a decadelong earnings spree in Asia petered out two years ago," reports the Journal. And Chairman John Peace plans to step down this year. "Mr. Peace’s departure plans were announced in February 2015, when the bank also moved to replace former chief executive Peter Sands with Bill Winters."
Yahoo Tech puts the move in context of increased scrutiny around security troubles affecting the banking industry:
Global regulators in March proposed stricter rules on how banks calculate the amount of capital they need to cover risks to operations from cyber attacks amid mounting concerns about banks' vulnerability to hacking.
Hackers earlier this year rattled the banking industry by stealing $81 million from a Bangladesh central bank account at the Federal Reserve Bank of New York, in a theft that targeted the SWIFT global money transfer system.
Prior to joining Standard Chartered, McGuire was VP of global government affairs & cybersecurity policy at Symantec, a position she held for nearly 6 years. Before that, McGuire was director of critical infrastructure & cybersecurity at Microsoft and director of the National Cyber Security Division/US-CERT with the U.S. Department of Homeland Security.
McGuire earned her BA at the University of California, Riverside and her MBA at the George Washington University School of Business.