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After Strategy Reboot, JPMorgan Going Deeper in Cloud

Lori Beer, global chief information officer at JPMorgan Chase, says the bank has learned a lot during its transition to using services from outside cloud computing providers such as Amazon Web Services. Armed with this knowledge, Ms. Beer said in a recent interview, JPMorgan will soon give the green light to storing “highly confidential” data with cloud providers, a sign of the bank’s confidence in its revamped cloud strategy.

Ms. Beer’s comments are surprising because banks are typically hesitant to talk publicly about how they’re using emerging technologies. That’s especially true for cloud computing, where the idea of using servers and storage shared across multiple customers—sometimes referred to as the public cloud—has been a tough sell for highly regulated industries. But Ms. Beer, who joined JPMorgan Chase in 2014 and was previously CIO of its Corporate & Investment Bank, has accelerated JPMorgan Chase’s use of cloud services since taking the job in September 2017. With an increased focus on cybersecurity, she is building on the plan that her predecessor, Dana Deasy, set in motion before announcing his retirement from the company.  

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