I think the Chief Architect should be home grown from within the company. It should be someone who came up through the ranks and really understands the business, the industry and the technical environment. Then this person will be in a position to partner with senior leaders to help define a realistic business strategy and ensure that the technical components of the strategy can be delivered by the IT organization. The Chief Architect needs to know the challenges and opportunities facing the industry and who the competitors are, what they've been doing and how to stay ahead of them.