JPMorgan made a major technology lease to Goldman Sachs

JPMorgan has made a major new hire for its technology team. It comes from Goldman Sachs.

Michael Heller joined JPMorgan in Jersey City as Head of Infrastructure and Platform Engineering on JPMorgan’s banking platform. Heller joins JPM as MD.

Heller has a long history as a platform engineer. He spent 16 years at Goldman, where he was promoted to managing director in 2019 and was most recently global head of electronic trading platforms.

JPMorgan plans to spend $12 billion on technology this year, up from $10 billion in 2020. The bank last year hired a new chief technology officer for its investment bank in the form of Eisar Lipkovitz, the former Executive Director of Engineering at Lyft. Lipkovitz was tasked with modernizing JPMorgan’s infrastructure and building scalable platforms for the bank.

As we’ve reported in recent months, JPMorgan and Goldman Sachs have lost senior technology executives. Big tech companies like Meta hire banking technologists; the same goes for crypto companies.

Interesting way, Heller joins JPMorgan’s consumer banking team despite having worked on trading platforms at Goldman Sachs.

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