J.P. Morgan hired another top technologist from Deutsche and Goldman Sachs

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J.P. Morgan has brought on board another top technologist with a Goldman pedigree who was latterly at Deutsche Bank, Jim Adams has joined the firm as a managing director, engineering and architecture services.

Adams comes with 18 years of experience in investment banking. His stints include working at Goldman Sachs and Deutsche Bank. He will be based at J.P. Morgan's New York office.

Adams is J.P.M's third big tech hire in four months. The bank was late to invest in its electronic trading platform and has been playing catch-up. Last April, Daniel Pinto, chief executive of the investment bank, said that J.P. Morgan wants to achieve a top three position in all “sub-products and geographical categories” in global markets.

Adams was almost certainly hired by Michael Grimaldi, whom J. P. Morgan recruited from Deutsche Bank in September 2017 and subsequently promoted to Chief Information Officer (CIO) at its Corporate and Investment Bank. Before Deutsche, Grimaldi spent 21 years at Goldman Sachs, latterly as head of its securities and equity research technology functions. He joined DB in 2014 to lead technology for its investment bank.

Grimaldi is making a habit of hiring ex-GS technologists into J.P.M.  Grimaldi’s arrival at JPM was followed by that of Karen Rossi’s, a former managing director at  Goldman Sachs. Rossi, who had spent ten years at Goldman Sachs, joined as managing director in JPM’s Corporate and Investment Bank Technology division in November.

Globally, J.P. Morgan’s investment bank technology headcount is huge – around 10,000 people work in tech for J.P. Morgan’s CIB, which is approximately 25% of IT headcount across the bank.

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