JPMorgan eliminated the head of technology in its investment bank, hired from a hedge fund
JPMorgan has parted company with Camille Fournier, the woman who was global head of engineering and architecture in its corporate and investment bank (CIB).
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The bank declined to comment on Fournier's exit, which is understood to have taken place in recent weeks. She is not being replaced.
Fournier joined JPMorgan in 2022 after over five years as head of platform engineering at hedge fund Two Sigma. She's also written books, the most recent of which is titled "The manager's path", currently for sale on Amazon as part of a package deal including "The little book of management bollocks," (by a different author). She was hired around the time that Eisar Lipkovitz, the former chief information officer for the CIB left, just two years after joining from a ride-sharing app in 2021. He's now just the head of product at a workforce management software firm.
It's not clear why Fournier is leaving JPMorgan. She didn't immediately respond to a request to comment, and JPMorgan didn't elaborate.
In the absence of a new head of CIB technology, sources at the bank said Fournier's role - which was about building core platforms for the CIB - is being split between technology heads in the individual lines of business. JPMorgan has presumably decided this is the best course of action after churning through two CIB tech heads in five years. However, speaking off the record, insiders at the bank said the new arrangement isn't ideal. "All the core and platform engineering is split amongst the line of business fiefdoms in CIB and it will be an ungovernable mess," lamented one.
The change comes after numerous senior figures have left JPMorgan's AI and digital team, including Samik Chandarana, the former head of digital banking in JPMorgan's corporate and investment bank, Tucker Balch, an MD in the AI research group, and Vasillis Plachouras, who was hired from Meta last year.
Sources at the bank said costs are being cut after JPMorgan combined the commercial bank with the historic corporate and investment bank at the start of this year.
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