JPMorgan Appoints FTSE 100 Technology Heads to European Board
December 11 2015 - 7:59AM
Dow Jones News
By Giles Turner
JPMorgan Chase & Co. (JPM) has appointed the technology
heads of two FTSE 100 companies as non-executive directors on its
European board, demonstrating the increasing importance of the
sector to banks.
Jane Moran, global chief information officer at Unilever PLC
(UL), and Monique Shivanandan, chief information officer at
London-based insurer Aviva PLC (AV), have joined JP Morgan
Securities PLC, the main legal unit for its European, Middle East
and African business.
A spokeswoman for the bank confirmed the appointments.
Cyber attacks have become a pressing issue for banks, with the
majority of U.S. brokerage firms surveyed by the Securities and
Exchange Commission saying they had been targeted by some form of a
cyber attack, according to a study by the regulator published early
this year.
JPMorgan has been a victim of one of the largest cybercrimes in
history, when contact information of more than 83 million customers
was stolen. Last month, U.S. prosecutors charged three men with
carrying out the attack.
JPMorgan spent between 8% and 9% of its revenues on technology,
about $9 billion a year, according to its 2014 annual report.
Write to Giles Turner at giles.turner@wsj.com
(END) Dow Jones Newswires
December 11, 2015 07:44 ET (12:44 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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