The retirees from IBM and London Stock Exchange enjoying the Omnia show and collecting big fat checks for reinventing open-source code and cloud. Omnia produced nothing in 2018. Beacon is a Indo-China center for outsourcing.
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And sadly STT got rid of the experienced Old timers who kept the old equipment running through patches and prays.
Nobody listen to the old ITT staff when they said STT needed to start upgrading 20 years ago.
But the word was mgmt was do your best to keep the old equipment running, which the staff did
Most people saw this coming 3 years ago when these Omnia cowboys first showed up from LSE. What an expensive experiment and waste of time this has been for State Street and how long did it take for the board to take action...
It's official, Omnia project is cancelled. All those people have been told their last day is Nov. 1
Omnia IT folks in Quincy are busy posting their resumes.
Omnia SVP heads have started to roll
Chuckles
Very true. Everyone of them is a VP or above. No IT transformation, these guys are just collecting fat paychecks and did nothing in the past one year. Most of them don't showup to work. All flashy powerpoint pictures. Most of them came from London Stock Exchange and IBM, did nothing.
Omnia was the so to speak IT transformation initiatives that would re-invent state streets technology landscape gearing the bank to be more in line with technology advancements such as microservices, unified data architecture etc. The senior IT management brought in to effect this transformation most of whom from the London and New York stock exchabfev have done absolutely nothing in two years despite the millions spent in travels, fat pay cheques and lots of nice pictures to show what they would deliver but with nothing to show adtwe 2 years. The IT senior management at State Street are mere salesmen.These are the folks who should be shown the door first rather than the people at the bottom of the food chain. Let's hope that Ron will see the light..
What is Omnia?
That's so true. Big checks have gone to their own pockets.
huh?? no idea what you hinting at. is Omnia a financial tech company?? how is IBM involved with the bank custody business???
Wut?