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Once upon a time banks wanted to hire entrepreneurial young bankers. Now, entrepreneurial young technologists are the new-new thing.

J. P. Morgan's newest tech hire has the sort of CV that should make bankers scared

J. P. Morgan's got a new technology recruit with the sort of resume that should make bankers think twice. He’s a serial entrepreneur, and he’s worked for a major hedge fund.

Rusty Conover, former vice president at the hedge fund Two Sigma, joined JPM as an executive director in its New York office last month. Although it's not clear what exactly he will be doing at JPM, Conover’s profile suggests he’s the sort of exciting person most bankers might aspire to become. – He’s worked in finance, and e-commerce and publishing and media and fashion.

Conover worked for hedge fund Two Sigma until February 2018. There, he was the tech lead for a team which worked on a platform that executed quantitative simulation workloads for Two Sigma research.

His LinkedIn profile says he designed and implemented large-scale, secure, and robust caching framework that could store tens of petabytes of data and provide hundreds of gigabits of bandwidths to applications without any additional resources.

Before and during his time at Two Sigma, Conover set up four companies in 12 years. They include: InfoGears, an e-commerce-cum-CRM platform for businesses, where he serves as the CTO;, an online platform for comparing prices for outdoor gear and electronics; Lucky Dinosaur, a live video streaming, encoding, and distribution platform; and ParrotSnap, a cloud-based platform to save, organize and search information in Microsoft Excel.

Conover joins JPM as an executive director – one notch below MD. He suggests the era of entrepreneurial students becoming mere bankers is drawing to an end. Now, the most entrepreneurial student are technologists who join banks’ tech divisions instead of the front office.

Conover is J.P.M.’s latest senior tech recruit. In March, Ranjit Samra, former chief information officer of corporate services technology at Credit Suisse and Myron Wieneke, former head of technology services at Bridgewater Associates, joined the firm as managing directors.

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