David Newman

SVP, Innovation Group, Innovation R&D Wells Fargo Bank

David Newman is Senior Vice President and Strategic Planning Manager of Enterprise Architecture and IT Strategy at Wells Fargo Bank.  David also chairs the Semantic Technology program for the Enterprise Data Management (EDM) Council and leads the Council’s efforts to develop ontologies for the financial industry known as the Financial Industry Business Ontology (FIBO).  FIBO is a free and open source ontology that semantically describes business entities, derivatives, securities, loans, corporate actions and metadata.  FIBO is being developed as the next generation global financial data standard.  FIBO can be used to support macro-prudential and institutional risk management, regulatory compliance and reporting, risk analytics, as well as serve as a foundational set of semantic building blocks for enterprise data models and taxonomies.  It therefore provides a solid basis for strategic fulfillment of BCBS-239.  David is also responsible for the working group that is developing executable reference ontologies that demonstrate FIBO’s many advanced capabilities.  In addition, David is starting an initiative to position elements of FIBO to be available for semantic markup of financial content for internet sites through a collaboration with Google, Yahoo and Microsoft.  David is a frequent speaker at industry conferences on semantic technology as well as at regulatory and academic conferences on systemic financial risk.  At Wells Fargo, David focuses on emerging technologies and innovation initiatives and leads the Wells Fargo Semantic Technology Community of Interest.