Press Release

TBM Council Announces Phil Armstrong As New Chair, Adds Experienced Technology Finance Leader, Nicole Holmes to its Board of Directors

Phil Armstrong, Global CIO of Great-West Lifeco, and Nicole Holmes, Technology CFO for Wells Fargo, Assume Board Positions as the Council Helps CIOs and CFOs Navigate Post-Pandemic Strategy and Education

Bellevue, Wash. – Feb. 11, 2021 – The Technology Business Management (TBM) Council, a non-profit organization that promotes technology business management standards and practices to empower collaboration between technology leaders and business partners, introduced two members to its board of directors, including a new Council chair.


The TBM Council is a thriving community of CIOs, CFOs, CTOs and other technology and business leaders, united in the mission of creating the industry’s first standard cost model for hybrid environments to help organizations achieve their digital transformation goals – whether it’s undergoing a cloud migration, driving data-based decisions for technology investments, or moving from project- based to product-based development methods using Agile and Project Portfolio Management (PPM). The new board members bring with them a wealth of experience in driving digital and business strategies within their organizations by leveraging the TBM discipline to achieve success.


In cooperation with the TBM Council leadership team, led by Todd Tucker, General Manager of the TBM Council, the board of directors govern the organization’s efforts and mandate its focus on collaboration, standardization, and education of TBM.


“I’m thrilled to welcome our new board members, who bring with them experience from a wide range of industries,” said Todd Tucker, General Manager of the TBM Council. “The members of our Council are facing business-critical changes at an unseen scale and pace. I’m proud to expand our board further to promote even greater knowledge sharing and collaboration to help our members position themselves for growth and longevity.”


As Council chair, Phil Armstrong serves as a conduit between the board and other executive members of the TBM Council and TBM Council management. He is the driving force behind key Council initiatives, including evolving the TBM Council as members emerge from the COVID-19 pandemic, providing them with new and better ways to engage, learn, and contribute. As the current Executive Vice President and Global CIO of Great-West Lifeco, Phil has more than 40 years of progressive global technology experience as a CIO, senior technology advisor, and technology consulting strategist.


“Having been a member of the TBM Council board for the last three years, I’m honored to have the opportunity to serve as its Chair,” said Phil Armstrong, Chairman of the TBM Council Board of Directors. “TBM is an essential framework that enables business leaders across the executive suite to make informed decisions, transform business operations to capture important opportunities, efficiently leverage technology investments, and weather the inevitable storms.”


As the current Chief Financial Officer for Wells Fargo Technology, Nicole provides dedicated financial support to the Technology organization, helping leaders manage technology costs by delivering data-driven insights and transparency. Nicole has more than 27 years of experience in the financial services industry, having held leadership positions with companies like JPMorgan Chase.


“I’ve long benefitted from the TBM framework and principles and have put them into practice to help transform technology delivery and value creation,” said Nicole Holmes, CFO for Technology at Wells Fargo. “I’m excited to be part of the continued evolution of TBM as we and our fellow industry leaders grapple with agile transformations and the project-to-product shift, adopting public cloud services, growing investments in digital and the other areas in which TBM helps firms accelerate outcomes.”


Phil and Nicole join a robust lineup of industry-leading board members. For a full list of current TBM Council board members, visit


The TBM Council provides a forum for its members to exchange knowledge and learnings with peers to help manage and achieve success with the TBM framework. Membership is open to qualified IT, finance or business leaders and practitioners who meet applicable membership standards. To apply to become a member, visit


About the Technology Business Management (TBM) Council


Founded from members of Apptio’s CIO advisory board in 2012, the Technology Business Management (TBM) Council is a non-profit organization governed by a board of business and technology leaders from some of the world’s most innovative companies like Stanley Black & Decker, Lumentum, Verizon, State Farm, Intuit, and more. The Council is dedicated to advancing the discipline of TBM and driving standards for analyzing, planning, optimizing, controlling, and collaborating to maximize investments that will transform the IT operating model. Apptio, the industry’s leading provider of TBM software solutions, serves as the TBM Council’s technical advisor. Membership is open to qualified IT, finance or business leaders and practitioners who meet applicable membership standards. For more information or to join, please visit