JP Morgan set to hire over 5,000 for tech roles in India

JPMorgan Chase is set to hire more than 5,000 technologists in India this year, as the US financial services company steps up job allocation to its operations here, said two people familiar with the matter.

JPMorgan is one of the biggest employers, along with Barclays and Citigroup, in India’s foreign banking arena, with large facilities employing thousands of people.

Besides banking operations, they handle increasingly complex technology roles in areas such as artificial indigence, analytics and blockchain.

JPMorgan is planning to recruit those technologists this calendar year in Hyderabad, Bengaluru and Mumbai, as the bank continues to focus its surging digital operations including robotics, and big data, which are billed as the future of banking operations. Last year, the bank hired 4,000 such people in India.

The bank is said to be assigning global roles to India, which encompass product partners, technology partners and design partners who work in the areas of artificial intelligence, machine learning, cyber security, data engineering and cloud computing.

“Our India employees are being aligned to global product roles and are driving initiatives globally,” Ravi Pasupuleti, managing director, Mumbai Tech Center Lead, JPMorgan Chase, told ET, confirming the plans.

“Historically, leadership roles on product and tech sides have been based in the US, but now our employees in India are taking on global roles from India,” he said.

For example, Chase Digital Assistant is a bot, which provides bespoke banking solutions to millions of JPMorgan Chase clients through the Chase mobile app. The end-to-end work is led from India.

“Technology is critical to our business success,” Pasupuleti said.

Almost a third of the bank’s tech employees are in India with the three cities gaining increasing importance on the bank’s global map. These tech centres operate as innovation hubs and are linked to multiple lines of businesses and functions across the world.

JPMorgan currently employs more than 40,000 people in technology and operations across Bengaluru, Mumbai and Hyderabad.

“Our hybrid cloud strategy is accelerating our modernisation journey,” said Pasupuleti, citing the bank’s rising investment in newer technologies.

The bank recruits software engineers with a degree in computer science. It then trains them for two years to gain skills.

“We also continue to be laser-focused on cyber and how new technologies can help us to be more secure,” he said.

It also hires graduates who are not computer science majors but come from ancillary streams through an initiative called Tech Connect.

The bank is hiring directly at mid and senior levels, all the way up to managing director with a dedicated training programme.

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