JPMorgan hires new chief technology officer, memo says
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JPMorgan Chase has hired former PayPal executive Sri Shivananda as its new chief technology officer (CTO). Shivananda will start later this month and will report to Lori Beer, the bank's global chief information officer. The bank has a $17 billion tech budget and aims to tackle complex technological challenges with Shivananda's expertise. JPMorgan has also recently recruited two senior leaders from Amazon. Tech workers make up 20% of the bank's global workforce. Implementing AI could add significant value to the bank.
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