JPMorgan Chase co-president Gordon Smith said the bank is having no trouble competing for top tech talent to fuel its $10.8 billion digital ambitions.
Smith said a number of software developers the bank has hired come from the video game world.
How does JPMorgan get programmers to ditch Fortnite for mobile banking? “It’s actually been very easy,” Smith said.
Part of the allure is working on projects that affect tens of millions of people, Smith said.
Wall Street banks are increasingly competing with Silicon Valley start-ups and tech giants like Google, Amazon, and Facebook for top talent.
JPMorgan Chase, for one, says it’s having no struggle at all when it comes to hiring engineers and developers to build out its vast digital ambitions.
At a financial conference Tuesday, Gordon Smith, co-president and consumer banking chief at JPMorgan, said the bank has “honestly had no problems attracting that talent at all. It’s actually been very exciting.”
He noted that the bank had hardly any mobile or digital developers four years ago in Manhattan, but now has roughly 1,500 — mainly working out of the firm’s glistening tech hub in Hudson Yards.
Anecdotally, Smith said that a number of the developers he’s spoken with have left careers developing video games to join JPMorgan.
How is the bank luring away techies from sexy jobs working on hit games like Fortnite to work on mobile-banking products?
“It’s actually been very easy,” Smith told Erika Najarian, an equity-research head at Bank of America Merrill Lynch, at the conference.
While state-of-the art tech offices — in addition to Hudson Yards, the firm in September announced a new fintech office in Palo Alto to house 1,000 employees — likely help, the scale of JPMorgan’s opportunity is what Smith highlighted. Here’s the exchange:
Smith: I was talking to some of our developers, …read more
Source:: Business Insider