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JPMorgan moves further into the cloud

Aug. 24, 2016 2:47 PM ETJPMorgan Chase & Co. (JPM) StockJPMBy: Stephen Alpher, SA News Editor
  • Harish Grama is set to join JPMorgan (NYSE:JPM) next week as CIO for cloud services, according to Heather Glazer at the WSJ, citing an internal bank memo. Grama was previously at IBM for 20 years, most recently as head of software development for that company's cloud unit.
  • In this revenue-challenged environment, cutting costs is of paramount importance for lenders, and JPMorgan surely isn't alone in looking of ways to use the public cloud to help do so. Earlier this year, the WSJ reported Amazon's cloud business pitched its service to banks like JPMorgan, Goldman Sachs, and Citigroup.

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