JPMorgan names two new CIOs for tech models

(Reuters) – JPMorgan Chase has appointed James Reid as chief data officer for a brand new unit centered on creating and modernising know-how utilized by the financial institution’s 250,000 staff, an inner memo despatched on Friday and seen by Reuters confirmed.

Reid, who was most lately head of company know-how’s engineering and structure staff, turns into the financial institution’s first Black CIO and the primary Black member of its know-how management staff.

JPMorgan, the most important U.S. financial institution by property, has additionally appointed company-wide chief information officer Melissa Goldman as chief data officer for the renamed Finance, Danger, Knowledge and Controls know-how unit, the memo stated.

In her position, Goldman will proceed to guide a staff creating know-how for threat, compliance, finance, liquidity, controls and information capabilities.

Many banks are searching for to modernise their programs, as extra prospects search to work together with them digitally, and staff work and collaborate remotely.

The appointments additionally observe a renewed dedication by JPMorgan late final 12 months to enhance the range of its workforce and improve racial and gender variety in its most senior ranks.

As CIO for Worker Expertise and Company Know-how, Reid will report back to the banking group’s CIO Lori Beer and lead a staff that builds and maintains programs used throughout the financial institution’s company capabilities, equivalent to HR, authorized and audit, tax and robotics, the memo stated.

Reid is a Distinguished Engineer, a title given to a choose group of JPMorgan’s technologists who drive the agency’s know-how technique, in addition to a member of the Cloud Design Council, and a frontrunner of variety and inclusion initiatives on the firm.

Previous to becoming a member of JPMorgan in 2019, Reid labored at Equifax for 17 years, the place he was senior vp of core software program engineering.