Former HSBC COO Andy Maguire joins Thought Machine as Chairman

The cloud-native core banking technology company, Thought Machine, has confirmed the appointment of Andy Maguire as Chairman with immediate effect.

Andy was formerly Group Chief Operating Officer of HSBC, where he led the bank’s IT, business operations, change support, procurement and real estate services. Before HSBC, Maguire was Boston Consulting Group’s managing partner for the UK and Ireland, and a member of their global executive committee.

Maguire will take over from Richard Little, who has chaired Thought Machine since 2016 and overseen its growth from 40 employees to more than 400 today.

Thought Machine recently closed its Series B round at $125m, the fourth largest fundraising round in UK fintech this year. It has also added more than 150 employees in 2020 and has made a number of key senior hires.

“Over the last few years, I have watched Thought Machine disrupt the age-old core banking problem and partner with leading banks. The company is ready for its next stage of global growth. I am delighted to be joining Thought Machine,” said Andy.

“I am delighted that a person of Andy Maguire’s calibre has joined Thought Machine. As we expand our market share, Andy’s skill set and experience in driving HSBC’s infrastructural and operational strategy will be critical in creating material value for the business,” added Paul Taylor, CEO and Founder.