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Informing the UK's business technology leaders

The CIO 100 is compiled each year to reveal the most transformative CIOs in the UK business economy. CIOs that are driving business change, process improvement, enabling greater collaboration and innovating in new market opportunities join this exclusive group each year. The technology strategies of the CIOs and their achievements and ambitions towards transformation are judged in comparison to their IT sourcing strategies and vendor influence. The CIOs with the most transformative vision are also judged on their place within the business; and whether they put technology into the board level position and discussion.

CIO 100 - 2014 - #83

Co-operative Bank

CIO 100

Financial services

Co-operative Bank

Pete Coleman , CIO

Co-operative Bank is a retail and commercial bank with its headquarters in Manchester. In 2013 the bank was subject of a rescue plan to address a capital shortfall of around £1.5 billion, after it reported losses of £600 million and had its credit rating downgraded to junk by ratings agency Moodys.

When did you start your current role?

Have you completed an MBA?

Order the following sources of advice/information by value to you:
1. In-house
2. Vendors
3. Peer group
4. Analyst
5. Consultant

Technology strategy and spending

What is the major transformational IT project that has been recently completed, or is underway at your organisation?
Saving the bank

What impact will it/does it have on the organisation?
Without it we would have been in resolution (owned by taxpayer or other bank)

Name your strategic technology suppliers?
IBM, Steria, CAP Gemini

What is the IT budget?
£80m run, £140m change

If you can’t tell us the IT budget, how much is the IT operational spend compared to the revenue or company turnover as a percentage?

What is the strategic aim of the CIO and IT operations for the next financial year?
Support the Bank Transformation. Take out cost. Keep service good.

Transformation achievements

Would you describe the CIO role as a transformation leader in your organisation?

Describe the transformations you have led / been involved in, how did they transform operations, customer experience or the organisation?
Built a fundamentally new IT strategy supporting the transformation of the bank to a simpler customer focused business combining incremental change, simplified architecture, and direction towards a new platform for the future. Took out 12.5% of cost in 6 months. Shaped new Digital approach. Delivered first phase of risk remediation programme.

Beyond technology, can you describe a business transformation programme that you own or contribute to?
I was heavily involved in the "Liability Management Exercise" that recapitalised the bank at the end of 2013 and sold 70% to hedge funds

What percentage of your applications / infrastructure is run from the Cloud?

How is the use by employees of their own technology, use of mobiles and social networking impacting operations, customer experiences or the organisation at present?
Biggest impact is in making security much more complex. The old Jericho model no longer works

Do you have a plan in place for how to deal with shadow IT and BYOD. How do you influence and engage executives, place the right controls around employee choice and engage with the organisation on this issue?
Not yet. Looking to learn from other banks on this

The CIO role in the business

Who do you report to?

Do you have a seat on the board?

How often do you meet with the CEO?

Does your organisation have a digital leader and what is the difference in their responsibilities to yours?
They lead the business proposition. I lead the solution and delivery

What percentage of IT budget do you control and what percentage of IT budget does your digital peer hold?
I control 100%

The IT department

How many staff make up the IT team?(What is the split between in-house/outsourced staff)
Around 450 in house, 400 Steria, 400 Co-op Group

Describe the CIO’s management team, do you have direct reports that develop the relationship and services between the business and IT?
Ten roles. five Heads of Delivery, also owning business relationship with business areas. Heads of Strategy & Architecture, Service, Security & Risk, Build & Test, Management Control. The last is my chief of staff. I have dotted line report from HR, Finance and Group Technology (the team that supply my infrastructure)

What is the primary technology platform? ( for example ERP, Website, trading system)


What makes a great business leader?



What makes a great business leader?

Former Co-operative Bank CIO Pete Coleman writes exclusively for CIO UK on the challenges of business technology leaders

Former Co-operative Bank CIO Pete Coleman writes exclusively for CIO UK on the challenges of business technology leaders

By Pete Coleman | 13 June 2014

Pete Coleman, a CIO in transition


CIO Career

Pete Coleman, a CIO in transition

Outgoing Co-operative Bank CIO Pete Coleman writes exclusively for CIO UK about his next challenges, and why he's excited about future adventures

I haven't got a job. I am of a generation where those few words strike fear in my heart. If I talk to young people they expect breaks in…

By Pete Coleman | 11 April 2014

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