More technologists are being added to FTSE boardrooms as businesses channel their energy into technology led innovation, a report from Calastone has revealed.
According to the funds transaction network’s research more than a third of FTSE 100 firms now have technologists on their executive leadership teams, an increase of nearly a quarter from 2016.
According to the survey 34.7% of FTSE 100 companies now have a technologist as part of their executive leadership team, up from 24.5% in 2016.
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Furthermore, FTSE 250 firms including a technologist also revealed an increase from 18.6% in 2016 to 23.1% in 2018.
On the FTSE 100 there is a total of 9 Support Services companies listed, with 4 claiming to having technologists as part of their leadership team.
Banks list 4 companies on the FTSE 100 with three including a technologist on their executive team and Financial Services list four firms with 2 including a technologist at board level.
Support Services also leads the way on the FTSE 250 with 21 listed firms and 12 with a technologist on the leadership team. This was followed by General Retailers (6 of 14 listed), Financial Services (4 of 15 listed) and Media (4 of 7 listed).
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FTSE 250 sectors to see the greatest increase of companies with technologists at senior level included Non-life Insurance and Pharmaceuticals & Biotechnology with an increase of 1 firm in 2016 to 3 in 2018.
Discussing the change up in FTSE boardrooms Campbell Brierley, Chief Innovation Officer Calastone, said: “Organisations worldwide face the difficult challenge of having to align legacy systems to meet new, more sophisticated demands from the industry and customers. The role of the technologist has, as such, become increasingly pivotal in solving these problems – whether that be through replacing old systems, or using cutting edge innovative technology to streamline operational efficiencies and create a seamless user experience.
Embracing technology in this way is becoming increasingly important in generating competitive advantage.”
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Jon Willis, Chief Commercial Officer Calastone, said: “The funds sector sits at an exciting juncture where customer demands and industry standards are changing, and only those organisations which adopt and enact technology innovation will remain competitive for the long term.
The results from our study reveal the extent to which the UK’s largest, most successful businesses in other sectors are embracing digitalisation and technology innovation, and we believe funds companies can learn from their successes to best position themselves for a better future for our industry.”
