JPMorgan hires ex-PayPal exec as CTO - Reuters

JPMorgan hires ex-PayPal exec as CTO - Reuters

JPMorgan Chase has appointed former PayPal executive Sri Shivananda as chief technology officer, according to Reuters.

Shivananda will join the bank later this month, reporting to CIO Lori Beer and replacing the retiring AJ Lang, says Reuters, citing a memo.

Shivananda left PayPal at the beginning of 2024 after eight years at the payments giant, most recently as CTO. Before that he logged more than a decade at eBay.

In the memo, Beer says Shivananda's track record of innovation will help JPMorgan "tackle complex technological challenges".

He is the latest high-profile tech hire, following two ex-Amazon staffers: Manoj Sindhwani as CIO for the chief data and analytics office and Darrin Alves as CIO for infrastructure platforms. Meanwhile, global head of payments, Takis Georgakopoulos, is leaving.

JPMorgan has a $17 billion technology budget, with IT workers making up 20% of its 300,000+ workforce.

CEO Jamie Dimon has recently been particularly bullish on the potential of AI, likening its arrival to the development of the printing press and the steam engine.

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