JPMorgan's most resilient MDs are leaving for British banks in London
Before AI, transformation staff in banks might have felt they were at the end of their rope. Cloud migrations were nearly done, which would have left them susceptible to cuts. Fortuitously for them, the AI-race among big banks has set a new mandate for both technology transformation and data governance professionals. Among the British banks, JPMorgan is a particularly attractive talent pool.
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Dan Castle has joined Barclays in London as a managing director and its chief resiliency officer. He spent the last 15 years at JPMorgan, predominantly in risk management, but was made firmwide head of operational resiliency in 2021. Castle said in his announcement that the role is newly created.
Resiliency roles generally involve the prevention of and recovery from disruptions, both malicious and accidental. It's a timely appointment for Barclays, which got in trouble early last year for locking thousands of customers out of their accounts due to an IT glitch. Some blamed this on the bank's 30+year-old systems written in COBOL; other banks have been using AI to update this software, but relying on AI to write code for critical systems can have dire consequences if done wrong. Castle is presumably at Barclays to make sure it's done right.
Elsewhere in London, at HSBC, Hayden McDonald joined as an MD and CTO head of operational resilience enablement. He spent the last seven years at JPMorgan, where he was head of markets technology and modernization. The bank is seemingly one of the most advanced with AI, to the extent that CEO Georges Elhedery thinks he can cut up to 20,000 jobs using the technology. McDonald's role may then be to make sure things continue to run smoothly in their absence.
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