I love headlines like this: J.P. Morgan Creates Executive Role to Lead Cloud Services. It helps me understand what’s important to a company and tells me that a company’s focus area is real.
As financial services companies continue their efforts to become more efficient in a time in which regulatory demands and low interest rates dominate the news cycle, the cloud remains an area that provides real hope. JPM’s hire of Harish Grama as the chief information officer for cloud services confirms this.
According to JPM’s Chief Information Officer Dana Deasy, “the successful adoption of cloud technology is essential.” The company’s “evolving hybrid cloud model will help its technologists grow innovation, standardization and productivity in a secure and stable environment, plus have more efficiencies through shared platforms,” he said.
JPM is no stranger to the cloud. It currently benefits from the use of an internal private cloud; however, an ongoing initiative is considering leveraging a public cloud provider, such as Amazon Web Services (AWS) or Google. Moving forward, the bank has also said it’s even interested in developing its own original applications in the cloud.