By Anna Irrera
LONDON, March 9 (Reuters) - JPMorgan Chase & Co has
hired former HSBC Holdings Plc executive Jeremy Balkin
as head of fintech and innovation for wholesale payments, the
bank said on Tuesday.
In his new role, Balkin will oversee fintech and innovation
initiatives for wholesale payments, and be involved in
JPMorgan's decisions to invest or partner with companies that
can help further its strategy in the space, the bank said.
At HSBC in the United States Balkin served as head of
innovation and strategic digital partnerships, leading a team
whose responsibilities included improving digital customer
experience and identifying new products and services. Among the
team's projects was the deployment of humanoid robot Pepper in
HSBC's Fifth Avenue flagship New York branch.
HSBC suggested last month it was trying to sell its U.S.
retail unit, a business that has long underperformed.
Balkin's appointment comes as large banks continue to invest
in innovation and financial technology to improve their digital
offerings for both business and retail clients. There has been
explosive growth in digital payments over the past few years as
more commerce moves online.
JPMorgan's wholesale payments division also recently
appointed former BlueVine and PayPal Holdings Inc
executive Brad Brodigan as global head of small and medium
business for merchant services, the bank said. Brodigan's
responsibilities will include sales and partnerships, according
to the bank.
(Reporting by Anna Irrera in London
Editing by Matthew Lewis)
HSBC Holdings (HSBA)