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An ex-Goldman Sachs ED just got one of the most interesting jobs at J.P. Morgan

Forget research. Why not help a bank look for tech companies to invest in?

Alex Woodgate has just landed one of the most interesting jobs at J. P. Morgan.

The former Goldman Sachs executive director and TMT (technology, media, telecom) research specialist joined J. P. Morgan as an incubation product manager earlier this month in London. The new role suggests that Woodgate will be managing the technology products that come from J.P. Morgan's incubation programme.

J. P. Morgan launched its incubation program, In-Residence, for financial technology startups in mid-2016. Under the program, emerging fintech companies join the bank for six months during which they get access to JPM's facilities, systems, and expertise.

Daniel Drummer, vice president, data science, fintech and innovation at JPM, previously headed In-Residence, left to manage J.P. Morgan's Roar programme for crowd-sourced data earlier this year.

J.P. Morgan  has been sharpening its focus on technology. JPM's annual tech spend reached $9.5 billion in 2016 and 2017 and is poised to touch $10.8 billion this year.

Woodgate started his investment banking career with Berenberg as a graduate research analyst for banks, construction, and telecom sector in 2012 and moved to equity sales two years later. He joined Goldman Sachs in 2015 as an analyst and became an associate six months later. He became an ED at in Goldman's TMT global investment research team in July last year.

Companies sponsored by J.P. Morgan's incubator include AccessFintech, a post-trade startup created to help buy-side and sell-side firms manage vendor and operational risk across the trade life-cycle, and Mosaic, a company providing insights into bank transaction and market data. The ability to spot a good incubation opportunity is becoming a valuable skillset for banks - Citi hired Alex Sion from J.P. Morgan to run its D10X startup incubator in July.  By comparison, research jobs have been dwindling under MiFID II - last week's market intelligence report from Coalition identified equity research jobs as a particular area of decline in the first half of 2018. 

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