Thought Machine, the cloud native core banking technology company announces the appointment of Andy Maguire as Chair. Maguire, former Group Chief Operating Officer of HSBC, joins Thought Machine effective immediately. At HSBC, Maguire led the bank’s IT, business operations, change support, procurement and real estate services. Prior to HSBC, Maguire was Boston Consulting Group’s managing partner for the UK and Ireland, and a member of their global executive committee.
Maguire’s appointment comes at a time of significant momentum for Thought Machine, which recently closed its series B round at $125m, the fourth largest fundraising round in UK fintech this year. Furthermore, Thought Machine has added more than 150 employees in 2020 and has made a number of key senior hires in Q2 including Nicole Jude as Chief People Officer. Nicole recently led HR and people functions at Diligent Corporation and Bloomberg.
The appointment of Maguire happens against the backdrop of banks around the world increasingly demanding future-proof core banking infrastructure. Thought Machine will be announcing a number of new clients in the coming months. As the company pursues its internationalisation strategy, Thought Machine is strengthening its board with Maguire’s experience in driving banking transformation at HSBC, a world-leading financial institution serving more than 40 million customers in more than 64 countries.
Maguire will take over from Richard Little, software entrepreneur, angel investor and non executive director in software and technology businesses. Little has chaired Thought Machine since 2016, overseeing its growth from 40 employees to more than 400 today. His experience in growing software businesses has been invaluable in guiding Thought Machine’s expansion into new overseas markets and going live with several leading banks.