Gillian Tan, Columnist

JPMorgan's Tech Spending Should Wake Up Rivals

The bank's push to innovate could help it snare market share from rivals while helping it save, too.

April 5, 2017 at 5:28 PM UTC

Gillian Tan is a senior reporter covering finance and alternative asset classes including real estate, infrastructure, private equity, private credit, venture capital and sports business. She previously wrote an opinion column for Bloomberg and was a reporter at the Wall Street Journal. She is a qualified chartered accountant.

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Will JPMorgan Chase & Co.'s more than $9.5 billion technology budget leave rivals playing catchup?

In the firm's 2016 annual report published Tuesday, Chief Operating Officer Matt Zames elaborated on the $3 billion spent just on innovation, specifically the areas of robotics and machine learning. The upshot? Thanks to a program that identifies clients who are best positioned for follow-on equity offerings, some of JPMorgan's investment bankers now have an easier time screening for potential business. Soon, the program will be rolled out to other parts of the bank, such as debt capital markets.