JPMorgan's new CTO has stepped down after just nine months
Sri Shivananda's time as CTO of JPMorgan is over already.
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Hired from fintech stalwart PayPal last summer, Shivananda replaced Andrew Lang as JPMorgan's global CTO when Lang retired. Nine months later, he's narrowing his scope, and changing his title to CIO of payments. He replaces Mike Blandina, who spent five years as CIO of payments but announced his retirement last week.
A JPMorgan spokesperson confirmed the title change for Shivananda. He is succeeded in the role by Scot Baldry, a Goldman Sachs alum who joined the bank as CIO of corporate technology back in 2022 and announced his promotion to the role earlier today.
Baldry will have his work cut out for him in the wake of CEO Jamie Dimon's announcement that the bank is returning to the office five days per week. Technologists seem the least happy about the change; a Glassdoor review this month from a software engineer in Glasgow says "most people are planning their exits" while an engineer on jobs' forum Blind said the RTO is "mostly why I'm looking to leave." Although, some believe this RTO-based attrition is all according to plan, in order to shift over roles to lower-cost locations.
As CTO, Shivananda reported to JPMorgan's chief information officer, Lori Beer, who continues to sit on the bank's operating committee. Baldry, presumably, will do the same.
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