{"id":18415,"date":"2025-07-22T04:37:26","date_gmt":"2025-07-22T04:37:26","guid":{"rendered":"https:\/\/finderica.com\/?p=18415"},"modified":"2025-07-22T04:37:26","modified_gmt":"2025-07-22T04:37:26","slug":"jpmorgan-overhauls-quantum-computing-leadership-poaches-state-street-exec","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=18415","title":{"rendered":"JPMorgan overhauls quantum computing leadership, poaches State Street exec"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-106346377\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Marco Pistoia, Global Technology&#8217;s Head of Applied Research and Engineering at JP Morgan.<\/p>\n<p>Source: JP Morgan<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">JPMorgan Chase<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> has overhauled the leadership of its internal research group responsible for quantum computing and other forms of advanced technology, hiring a <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">State Street<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> executive, CNBC has learned.<\/p>\n<p>Marco Pistoia, the former IBM inventor who became head of JPMorgan&#8217;s applied research group in 2020, has recently left the bank, according to a person briefed on the matter, who declined to be identified speaking about personnel.<\/p>\n<p>That group conducted <a href=\"https:\/\/www.jpmorgan.com\/technology\/applied-research#press\" target=\"_blank\" rel=\"noopener\">research<\/a> into how emerging technologies including quantum computing and communications, blockchain, computer vision and networking could solve problems in finance.<\/p>\n<p>JPMorgan has hired <a href=\"https:\/\/www.linkedin.com\/in\/robotter\/\" target=\"_blank\" rel=\"noopener\">Rob Otter<\/a>, who is State Street&#8217;s global head of digital technology and quantum computing, to replace Pistoia, according to an employee memo sent Monday.<\/p>\n<p>Before joining State Street in 2022, Otter was head of JPMorgan&#8217;s <a href=\"https:\/\/www.jpmorgan.com\/insights\/payments\/payment-trends\/introducing-kinexys\" target=\"_blank\" rel=\"noopener\">Onyx<\/a> blockchain business and worked in technology roles at <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\">Barclays<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, Credit Suisse and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-9\">Goldman Sachs.<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span><\/p>\n<\/div>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108174653\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Rob Otter is a former State Street technology executive who is becoming JPMorgan Chase\u2019s new head of the GT Applied Research (GTAR) team.<\/p>\n<p>Courtesy: JPMorgan Chase Co.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Quantum computing has the potential for huge advances over traditional computing and is expected to have applications in finance, drug development and materials science, among other fields. Tech giants including <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-10\">Alphabet<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-11\">IBM<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> are racing to create a reliable quantum computer with commercial applications, while small publicly traded quantum companies like <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-13\">Rigetti Computing<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-14\">D-Wave<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> have seen their shares surge over enthusiasm in the nascent field.<\/p>\n<p>One of Pistoia&#8217;s deputies, Charles Lim, who was the bank&#8217;s global head for quantum communications and cryptography, has also departed, according to the person familiar with the changes.<\/p>\n<p>JPMorgan had touted the credentials of Pistoia and Lim while the firm was building out its research group. Pistoia has at least <a href=\"https:\/\/qce.quantum.ieee.org\/2023\/home\/program\/marco-pistoia-keynote\/#:~:text=Pistoia%20is%20the%20inventor%20of,US%20Patents%20and%20Trademarks%20Office.\" target=\"_blank\" rel=\"noopener\">270 patents<\/a>,\u00a0according to a 2023 biography, and had been named a &#8220;Master Inventor&#8221; at IBM, a title given to researchers who regularly produce valuable patents.<\/p>\n<p>Pistoia didn&#8217;t immediately return a message seeking comment. Lim couldn&#8217;t be reached.<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108133733\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108133733\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000373324\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"><\/span><span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.cnbc.com\/2025\/07\/21\/jpmorgan-quantum-computing-leadership-state-street-exec.html\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marco Pistoia, Global Technology&#8217;s Head of Applied Research and Engineering at JP Morgan. Source: JP Morgan JPMorgan Chase has overhauled the leadership of its internal research group responsible for quantum computing and other forms of advanced technology, hiring a State Street executive, CNBC has learned. Marco Pistoia, the former IBM inventor who became head of<\/p>\n","protected":false},"author":1,"featured_media":18416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[196],"tags":[7433,3554,964,889,3764,7434,7432,290,556],"class_list":{"0":"post-18415","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance-news","8":"tag-computing","9":"tag-exec","10":"tag-jpmorgan","11":"tag-leadership","12":"tag-overhauls","13":"tag-poaches","14":"tag-quantum","15":"tag-state","16":"tag-street"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/18415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18415"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/18415\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/18416"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}