Marco Pistoia, Applied Research and Engineering Manager for Global Technology at JP Morgan.
Source: JP Morgan
JPMorgan Chase has revised the leadership of his internal research group responsible for quantum computer science and other forms of advanced technology, hiring a State street Executive, CNBC learned.
Marco Pistoia, the former inventor of IBM who became head of the JPMorgan applied research group in 2020, recently left the bank, according to a person informed of the issue, who refused to be identified speaking of staff.
This group has conducted research on how emerging technologies, including quantum IT and communications, blockchain, computer vision and networking could solve finance problems.
JPMorgan hired Rob Otter, who is the world leader in digital technology and quantum computer computer science, to replace Pistoia, according to an employee service note sent on Monday.
Before joining State Street in 2022, Otter was at the head of JPMorgan’s Onyx Blockchain activity and worked in technological roles at BarclaysCredit Switzerland and Goldman Sachs.
Rob Otter is a former State Street technology, which becomes the new GT Applied Research (GTAR) of JPMorgan Chase.
Gracieuse: Jpmorgan Chase Co.
Quantum IT has the potential of huge advances in traditional computers and should have finance applications, drug development and material science, among other areas. Technology giants, including Alphabet And IBM are underway to create a reliable quantum computer with commercial applications, while small quantum companies listed on the stock market as Rigetti Computing And Wave D have seen their actions arise on enthusiasm in the emerging field.
One of the deputies of Pistoia, Charles Lim, who was the world leader of the bank for quantum communications and cryptography, also left, depending on the person familiar with changes.
JPMorgan had praised the diplomas of Pistoia and LIM while the company built its research group. Pistoia has at least 270 patents, according to a biography in 2023, and had been named “Master inventor” in IBM, a title given to researchers who regularly produce precious patents.
Pistoia did not immediately send a message asking for comments. Lim could not be reached.
