scorecard
  1. Home
  2. finance
  3. JPMORGAN: 'We are a technology company'

JPMORGAN: 'We are a technology company'

Portia Crowe,Matt Turner   

JPMORGAN: 'We are a technology company'
Finance1 min read

JPMorgan CFO Marianne Lake says her firm is more than just a bank.

"We are a technology company," Lake said, speaking at JPMorgan's Investor Day on Tuesday.

JPMorgan Chase has a team of 40,000 technologists, including 18,000 developers "creating intellectual property," according to the firm.

It has a $9 billion technology budget, about one third of which is spent on investments. The firm also spends about $2 billion on security, including cyber security and proactive defense risk measures.

JPMorgan is not the first global investment bank to refer to itself as a tech company.

Goldman Sachs CEO Lloyd Blankfein has repeatedly referred to his own firm as a tech company in the past.

Here's a snapshot from Lake's presentation:

Screen Shot 2016 02 23 at 9.02.19 AM

JPMorgan

NOW WATCH: This 27-year-old quit her corporate finance job to travel the world

READ MORE ARTICLES ON


Advertisement

Advertisement