JPMorgan Chase has appointed Sri Shivananda, a former executive from PayPal, as its new Chief Technology Officer, as reported by Reuters. Shivananda is set to join the bank later this month, where he will report directly to Chief Information Officer Lori Beer. He succeeds AJ Lang, who is retiring.
Having departed from PayPal at the start of 2024 after an eight-year tenure, where he served as Chief Technology Officer, Shivananda brings a wealth of experience to JPMorgan. His previous role at eBay spanned over a decade, further solidifying his credentials in the tech sector.
In her memo announcing the appointment, Beer highlighted Shivananda’s impressive history of driving innovation, emphasizing that his expertise will be invaluable in helping JPMorgan navigate complex technological challenges.
Shivananda’s recruitment continues JPMorgan’s trend of attracting top tech talent, following the recent hires of former Amazon employees Manoj Sindhwani as CIO of the Chief Data and Analytics Office and Darrin Alves as CIO for Infrastructure Platforms. In a related note, Takis Georgakopoulos, the global head of payments, is set to depart from the organization.
JPMorgan Chase operates with a robust technology budget of $17 billion, with IT personnel comprising approximately 20% of its workforce, which exceeds 300,000 employees. CEO Jamie Dimon has recently expressed strong optimism regarding the potential of artificial intelligence, likening its significance to that of the printing press and the steam engine in terms of transformative impact.