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Executive Profile:CIO / CTO / COO / IT Director / Program Manager / Project Manager / PMP / Financial Services / Insurance / Banking / Outsourcing / Service Delivery / Operations / ITIL / CMMI

Gary Hegedus has held roles within Information Technology (IT), Back Office Operations and Service Delivery organizations with Global Financial Services companies, Retirement Services, Mutual, Hedge and Private Equity Fund administrators.He is experienced in driving corporate initiatives for outsourcing of management information systems, application design, development, maintenance, cost control and reductions via the use of automation technologies, Client Support, Call Centers and related functions.

He is directly responsible for deployment of leading edge “state of the art” applications and technologies, (Application design and development, Imaging Workflow, CTI, ERP, Web Sites, Internet, EDI, CPI,. CRM, SOX, CMMI, ITIL, .NET, SQL, Support and Service Delivery); within Asset Management, Wealth Management, Investment Banking, Trading, Mutual, Hedge, Private Equity Funds and Retirement Services, as well as Investment Banking and Retail Brokerage operations.

Currently at The Bank of New York Mellon, Inc.; Gary managers the bank’s Client Accounting Systems Group; which consists of staff of 175 Information Technology professionals, and a operating budget of 20.2 million dollars. He is directly responsible for technologies within the bank’s Asset Servicing division.He is also responsible for all technologies used in the support of accounting and recordkeeping services relating to the U. S. Department of the Treasury’s; Troubled Assets Relief Program (TARP).

At Citi Investment Services Group; Gary was directly responsible for all technologies within Mutual, Hedge. Private Equity Fund and Retirement Services lines of business.Gary is known within the industry as a true “Turnaround Manager and CIO”; and has been very successful in developing strategies, governances and execution plans to move organizations to the next level.

As Chief Operations Officer for ING Group N.V.; Gary’s responsibilities extended to all Information Technology, Back Office Operations, Service Delivery, Client Service Call Centers, Settlement, Life, Mutual Funds, Annuity and Retirement Services.Gary’s previous experience includes the role of Chief Information Officer for Morgan Stanley Trust, FSB., and executive level assignments with KPMG Peat Marwick, LLP., Citi Smith Barney and E.F. Hutton and Company, Inc..

Gary has directly managed the Project Management Office (PMO); for numerous client server and mainframe-based business application development initiatives.He is a hands-on applications developer and Project Manager.Gary was voted one of the top Chief Information Officers within the financial services industry by Wall Street & Technology magazine.

Gary attended the City University of New York (CUNY) and holds professional licenses within NASD and securities industry.Professional certifications include CMFM, CTOS and CSOP.

Rev 04/27/2009


Gary Hegedus

5 East 22nd Street 

New York, New York10010-5324 

Dear Recruiter:

Please take a moment to reflect on your client’s current and future needs in the areas of information technology, service delivery and back office operations.Upon doing so, consider the requirements and my hands on proven track record of accomplishments, and how I may assist your client in obtaining true success through world class technology, service delivery and cost effective “state of the art” operations.Your client’s performance is directly dependent on service delivery, systems, infrastructure and back office operations.

I am currently employed by The Bank of New York Mellon.In my prior position at Citi Investment Services; I was the firm’s Chief Information Officer (CIO).I have served as Chief Operations Officer (COO) with ING Group N.V. In addition, I have served as Chief Information Officer (CIO) at Morgan Stanley Trust FSB.Primarily, my experience has been in Financial, Banking, Insurance, Retirement Services, Asset Management, Mutual, Hedge and Private Equity Funds; as well as management consulting with KPMG Peat Marwick, LLP.

I have been known within the industry as a true “Turnaround Manager and CIO”; and have been very successful in developing strategies and execution plans to move organizations to the next level.My experience includes both industry and functional knowledge; along with technical aptitude and direct global “hands on” responsibility.Other competencies include the ability to directly develop business and information technology strategy and vision for the future; subsequently linking to a results oriented and driven execution.

Information Technology team leadership; talent and skill set development are also areas of my concentration.I work very closely with both clients and vendors to build consensus; insuring our mutual success.

My compensation requirements are open, flexible and based on the position's responsibilities and opportunities within your organization, and corporate culture.My preference is to be based within a metropolitan area.I am very interested in working with you;and look forward to any opportunities that we can jointly develop.Please take a minute to review the attached bio and resume.


Gary Hegedus

Work experience

Apr 2007Present

Managing Director

The Bank of New York Mellon, Inc.

Directly responsible for a technology staff of 175 professionals and operating budget of 20.2 million dollars. Developed organization mission statement, goals, objectives, strategy, governance and service delivery model. Assists business leadership with the establishment of clearly defined project plans and initiatives; for new enproved product functionality. Ensures compliance with all governances, polices, processes, methodologies and Software Development Life Cycle (SDLC) standards. Assists business leadership; as a Subject Matter Expert (SME) within areas relating to technology and industry trends. Processes a deep understanding of products, risk mitigation, Equities, Fixed Income, Derivatives and Debt instruments. Responsibilities include all technologies used in the support of accounting and recordkeeping services relating to the U. S. Department of the Treasury’s; Troubled Assets Relief Program (TARP). Fosters a celebrative work environment between all partners, internal, external, technology and the business.

Jun 2002Mar 2007

Chief Information Officer and Executive Vice President

Citi Investment Services Group; (Formally BISYS Investment Services Group, Inc.)

Created shared services information technology model to support Mutual, Hedge, Private Equity Funds and Retirement Services lines of business. Reduced operating expenses by 24% via the use of “Smart Sourcing”, and shared infrastructure services model. Both Hedge and Private Equity Funds operations are part of our Alternative Investment Services group, and provide global administrative, accounting, advisory and tax related services and products. We perform administrative services for more than $ 200 billion of alternative investment assets. Our Mutual Fund Services unit is an industry leader and provides administration, accounting, transfer agency, compliance, regulatory support and shareholder services for over 80 clients, representing apx.: 1,400 registered and non-registered funds; with apx.: $680 billion, in assets under administration. The Retirement Services unit provides 401(k) services and support for more then 18,000 company sponsored plans, representing more than 1.6 million eligible employees. They also provide services for more than 4 million IRA holders with ERISA documentation.

Managed CMMI review assessments of currently deployed Systems Development Life Cycle (SDLC). Consolidated processing platforms, right sized as well as created off shored development teams and activities. Created Shared Infrastructure Services group to reduce costs and improve in service delivery. Deployed project management and tracking software; e-Project; Team-Play / Prima-Vision, tools from Primavera Systems, Inc.; implemented Rational Unified Process (RUP) as a standard. Implemented enterprise wide Dashboard reporting and controls. Major systems included Eagle, Geneva, DST / HiPort, AdvisorWare, Investment Café, Investar (SunGard Products) and WyStar.

Oct 1999Dec 2001

Chief Operations Officer and Senior Vice President

ING Group N.V.; (Formally ING / Aetna Financial Services, Inc.)

Managed all Service Delivery, Back Office Operations, Retirement Services, ClientServiceCenters, Settlements, Individual Annuity, Life and Plan Sponsor Services.Served as President of ING / Aetna Life Insurance Assignment Company.Directly reports to firm's President and CEO.Major provider of retirement planning services - (401(k) 403(b) 457(a)), record-keeping, annuity and pension products within the financial industry.Back Office Operations comprises the following business units; Retirement Operations; Client Call / Service Centers - Hartford / Phoenix / Minot / Albany; Mutual Fund Client Services; Consulting Services / Project Management; Individual Annuity Operations; ING / Aetna Trust Company, FSB; ING / Operational Synergies; Settlements and Pay out Services.

Reorganized Back Office operating departments to achieve optimal performance and cost structure.Leader of firm's Operations Excellence initiatives; re-engineered firm's in-house core developed systems and subsequent replacement with "state-of-the-art" off-the-shelf vendor developed applications solutions.Replaced retirement planning and record-keeping system with OMNI Plus from SunGard Systems, Inc.; PeopleSoft | HR, and Annuity system with Life Cad from Navisys Systems, Inc.All application systems are considered industry standards in today's business environment.Deployed imaging workflow technologies from Tower Systems, Ltd.; and StaffWare Systems, Inc.

·  Implemented Activity Based Costing (ABC) throughout Back Office Operations. Reduced overall manpower resource usage by 12 %, improved service delivery time for clients by over 18 % via enhanced workflow processing.

·  Deployed "Pay for Performance" program that included comprehensive compensation study of employee job grades and creation of career progression paths within Operations.Linked employee performance to "best practices" metrics; obtained efficiency gains in excess of 9 %.

·  Functionally realigned Back Office Operations organization to increase synergies and efficiencies within Retirement Plan Operations Unbundled and Bundled Plan Sponsored Services.Obtained 22 % savings by leveraging costs and overhead down via usage of shared services along with common processing platforms.

·  Negotiated and executed agreements for acquisition of applications software technologies that included provisions for ongoing field service, product support and joint development activities with selected vendors. Partnered with vendors to insure both collaborative long-term relationship and joint success of both firms. New application software enabled us to provide our clients' superior world-class services at reduced operating cost of 7 %, along with additional processing capacity of 18 %. (Received DALBAR award for having best web site within industry, consistently top ranked in delivery of client services.)

Oct 1995Sep 1999

Chief Information Officer and Senior Vice President

Morgan Stanley Trust, FSB.

Responsible for Management Information Systems, Applications Development, Technology, Voice and Data Communications, Real Estate Facilities and Mail Processing Operations.This position also includes duties of firm’s Chief Security Officer (CSO); and reported to the Chief Operating Officer (COO).Member of firm’s Executive Management and Trust Committees.Directly responsible for modernization of applications portfolio and implementing leading-edge technologies.Managed operating budget of $ 24 million and head count of 198.Implemented AWD / Workflow solution from DST Systems, Inc., for back office operations and re-tooled data center operating environment.Completed migration of all applications and facilities to year 2000 compliance.Reduced Information Technology budget by 28% within the first year of managing this organization. Deployed “state-of-the-art” technologies within Customer Call Center that included Lucent G3 telephone switch, Edify Interactive Voice Response (IVR) system, Automated Call Director (ACD), client contact management software and automated voice recording with on-line real-time playback facilities as well as Computer Telephony Integration (CTI) and Customer Relationship Management (CRM) functions.Directly managed client server and mainframe-based application development projects.

  • Deployed automated imaging workflow solutions as part of overall back office re-engineering process for Transfer Agency, Mutual Funds, High Net Worth Accounts, Stock Record, Trust and Customer Services groups.
  • Implemented paperless back office environment via on-line report viewing, archival and retrieval; increased user productivity and reduced printing costs by $2.6 million within first year of rollout.Eliminated all microfiche production and usage via implementation of on-line optical WORM-based technology yielding an additional $1.2 million in yearly savings.
  • Guided Marketing and Sales organizations in requirements definition for creation of web site for both Mutual Funds and Trust clients.Established back-end processes to produce nightly updates for 7.5 million customer accounts providing them with Internet access to account performance, Net Asset Value (NAV) and current positions within portfolio.This site was created using JAVA, C++, Power-Builder and Cyber-Express on a Microsoft NT based Web server, DB2 was used on the mainframe.
  • Performed best practices gap analyses review of all mainframe based  applications systems with particular focus on Mutual Funds, High Net Worth Accounts, Transfer Agency, 401K and Employee Benefit applications. This project was initiated to insure competitive and continued “state-of-the-art” functionality to users along with most cost-efficient delivery of services.
  • Major renovation of Mutual Funds system to update and add multi-class share capabilities.Project also included addition of functionality to perform NSCC trading, record keeping and level three reporting functions.Renovation included the conversion and enhancement of DB2 in replacement of VSAM.
Jan 1995Sep 1995

Senior Independent Consultant

KPMG Peat Marwick, LLP.

Assisted large corporate clients in assembling Requests for Proposals (RFP) for in sourcing and outsourcing of management information systems (MIS) related functions.Reviewed MIS departments and operations to determine areas of potential cost-reduction and improvement in delivery of services to end-user organizations.Directly managed client server and mainframe-based application development projects.Assisted clients with evaluation and procurement of new hardware and software technologies.

Apr 1993Dec 1994

First Vice President

Lehman Brothers, Inc.

Reported to Managing Director of Technology Operations in Trading Services division.Duties included administering long-and short-term computer hardware and software plans, operating systems, on-line systems, security, computer operations support, communications, hardware and software acquisitions, contract review, negotiations, capacity planning, service reporting, disaster recovery, special data center projects, establishing budgets and managing to projections.Data center supports large-scale multi-processor environment (IBM) and communications network with over 5,500 IBM personal computers, 3,500 Sun workstations and 160 client servers.

·Managed operating and equipment budget reductions from $77 million to $65 million in one budget cycle, while increasing data center processing and storage capacity.Extensive knowledge of computer suppliers of service and equipment vendors; including availability, deployment of strategic technology, pricing, leasing and equity insertion.Initiated facilities management agreements, resulting in over $1.4 million in annual revenue generation.

·Instituted processes to improve system availability; enhanced on-line systems / network service delivery to end-users by response time improvements.Instituted monthly data center executive and client availability tracking and reporting.

·Assisted in evaluation of data center outsourcing proposals and subsequent recommendations to firm's Management Committee on cost-effective solutions for consistent delivery of services.Played key role on negotiating teams; established Transition Services Agreement between firm and IBM's ISSC subsidiary.

·Established dedicated processing environment for firm.This included acquisition and negotiation in a multi-vendor environment for $27 million in equipment and communications hardware, software and professional services.

·Designed and managed construction of firm's remote CommandCenter. This project provided the firm with back up recovery for both data center and communications functionality.

Jun 1988Jul 1993

First Vice President

Citi Smith Barney; (Formally Shearson Lehman Brothers, Inc.)

Reported to firm's Chief Information Officer; managed divisional operating budget of $108 million.Managed divisional budget to within less than a 1-% variance.Led the following initiatives:

·  Addressed all administrative issues relating to applications development and operation of firm's data center.Participated in focusing and setting technical direction.Negotiated all hardware, software and services agreements.Coordinated enterprise wide software vendor licensing issues.Reviewed all initial insourcing opportunities.Managed vendor invoice payment procedures.Established and tracked operating budgets, salary and bonus compensation plans for full division.

 ·  Produced an Executive Monthly Management Book that summarized application development project activities, performance, and delivery of services, budget analysis, head count and tracked year-to-date financial performance.

·  Co-chaired two SIA committees, the first on Data Communications Protocols and second on Records Retention and Storage; obtained SEC amended rules and regulations.Reduced operating costs and improved services.

Jun 1974May 1988

Vice President

E. F. Hutton and Company, Inc.

Reported to Executive Vice President of Back Office Operations; responsible for complete back office and served on firm's Board of Directors.Managed and directed supervision of technical developers, education, employee staffing and planning.Appraised Systems Programming and Security staff members. Managed for all Technical Services, Systems Programming, Communication Support, Help Desk, Systems Security and Disaster/Recovery groups.

·  Implemented second data center facility of 22,500 sq. ft.; included a fit

   out and construction budget of $19.5 Million.

·  Served as team leader to merge and decommission both of the firm's data

   centers, merged remaining workload into the Shearson Lehman Brothers

   processing environment.

 ·  Managed mainframe-based application development projects.

Rev 04/27/2009




Professional Licenses



Sep 1972Jun 1974


City University of of New York