Published on November 2nd, 2021 📆 | 2829 Views ⚑0
JPMorgan Chase’s Top Technology Execs Overseeing $12 Billion Annually
- JPMorgan’s tech organization is led by a seven-year bank vet, Lori Beer, its global CIO.
- In 2020, JPMorgan spent $12 billion on tech and related investments.
- Here are eight top tech executives who report directly to Beer.
JPMorgan Chase has a $12 billion annual tech budget, employs 53,000 technologists, and houses 500 petabytes of data — more than 31 times the amount of info stored digitally at the Library of Congress in 2018.
Underpinning all of that is Lori Beer, JPMorgan’s global chief information officer, and her team of top tech brass.
Beer joined JPMorgan in 2014 as the CIO of corporate and investment banking. In 2017 she was named global CIO and joined the bank’s operating committee, reporting directly to Jamie Dimon, the CEO and chairman.
Beer came to the bank with a background in healthcare and insurance, having worked for nearly three years at WellPoint, now called Anthem, overseeing specialty businesses and information technology.
Beer said she brought that experience to JPMorgan.
“I was able to leverage the core, organic skills that I had learned to manage through in my career — around how to work in a regulated industry, how to drive innovation through that, how to apply and solve technology challenges at scale,” Beer said during a Hispanic Information Technology Executive Council summit in March.
“There’s no job you can do by yourself,” Beer added. “What’s always important is to think about where your strengths are and where you have gaps, and really fill those gaps with people that are brighter and smarter than you and think differently than you, because you’ll get a better outcome collectively as a result.”
Insider mapped out the key tech executives at JPMorgan who report to Beer and help her lead the bank’s massive tech org.
Many on her team are focused on specific business lines. There are chief information officers appointed to divisions like corporate and investment banking, asset and wealth management, and consumer and community banking.
Some executives work across the bank, focusing on areas like employee experience and technology architecture.
Four of these executives took on new positions this year, either coming from outside the bank or moving up internal ranks. Others are JPMorgan veterans.
A JPMorgan spokesperson declined a request for an interview with Beer.