Now, a global bank holds a developer event in India
JPMorganChase, the world's biggest bank by market capitalisation, has over 20k engineers in India, and the developer conference is designed for them to learn from one another
We got particularly excited by this story because, over the years, we've seen technology companies hold developer conferences – but a bank!
JPMorganChase
held a developer conference for the first time in India recently – signifying how important software development has become to every company, how much they are in-housing this instead of outsourcing it, and how important India is in this ecosystem. The world's largest bank (by market capitalisation) brought together 350 technologists from across its centres – mostly from India, but also some from overseas – in Hyderabad, with the objective of enabling its best engineers to learn from each other. Prior to this, the bank had held this conference, called DevUp, three times in its Plano, Texas, office.
'We decided a year ago that we wanted to bring DevUp into India because a third of our engineering talent (over 20,000 of the total of 63,000) is here. Engineers love engaging with engineers all over the globe,'
Lori Beer
, the bank's global chief information officer, told us when she came for the event. Various division CIOs nominate their best engineering talent to attend. Others are selected based on research abstracts they submit.
AI was understandably a major discussion point. 'One team was showing how they automate the software development build process and reduce the time to build by 50%. Another group was showing how to make disaster recovery faster with automation,' Lori said, noting that one engineer said she learned the software build process (from the presenting team), called her own team up, and had them implement the change immediately. 'They did it last night. It's pretty amazing.'
The bank has previously said it has built close to $2 billion in business value in AI. This has come from areas like fraud prevention, personalisation in the consumer banking space, and providing more relevant information to clients in the asset and wealth management space.
Lori said the bank is now looking at agentic AI, the architecture and platform required to build agents on top of existing systems.
A lot of this work is happening in India. 'One thing that's incredibly impressive is that the teams here don't sit on the trading floors, it's a US consumer business, and yet they know the business. I think it comes from their ingenuity, their desire to really dive in and understand,' Lori said.
Lori Beer, Global Chief Information Officer, JPMorganChase
Software engrs one of the bank's biggest job families
Tech companies have developer conferences because they sell products for technologists to use. We're having them to learn from our own engineers. Software engineers are one of our biggest job families. We have over 300,000 people in JPMorganChase, and 60,000-plus are in technology. So we wanted to make sure we had a software engineering conference to build and develop not just leadership skills, but individual contributors' software engineering skills. That makes sense given also that the foundation of most of our products and services is technology.
Lori Beer
Vibhavari Jahagirdar, Head of Global Technology for India and Co-lead for Global Post Trade Technology, JPMorganChase
Nothing like this in India
I haven't seen anybody else doing an internal developer conference on this scale in India. What we are doing in tech is absolutely cutting edge, and in that scenario, the event highlights the strategic importance of India.
Vibhavari Jahagirdar
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
3 days ago
- Time of India
JPMorgan CEO Jamie Dimon threatens to fire job-hopping analysts, says 'if you accept a position with another company...'
JPMorgan Chase CEO Jamie Dimon has threatened to fire junior bankers in a stern warning stating they will be fired if they accept another job offer within 18 months of joining. Reinforcing CEO Jamie Dimon's view that such behavior is unethical, the Wall Street veteran said grads accepting an analyst role at JPMorgan but intending to leave for private equity within a few years is 'unethical.' Junior bankers who accept a job offer within the first 18 months of joining the firm might face consequences, Dimon hinted. A leaked letter to newly recruited JPMorgan analysts, posted on the Instagram account Litquidity, warns the junior bankers that if they already have a lucrative gig lined up elsewhere, they will be booted out of the bank, reports New York Post. ALSO READ: Has Barron Trump found romance? A big revelation about his Secret Service takes internet by storm by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo Jamie Dimon's warning to bankers An email sent by Filippo Gori and John Simmons, co-heads of global banking at America's largest bank, welcomed new grads starting this summer with a stern warning: 'If you accept a position with another company before joining us or within your first 18 months, you will be provided notice and your employment with the firm will end.' 'To succeed in the investment banking analyst programme, your full attention and participation are essential,' the missive from the two senior executives continued. Live Events The message was clear: joining the financial giant requires your full focus and commitment. In a firm tone directed at junior employees, the memo emphasized that training sessions, meetings, and other obligations are mandatory. Missing any of these could result in termination. According to Fortune, the email—warning new hires that they could be let go if they accepted another job offer—was sent only to U.S.-based recruits. This appears to reflect a uniquely American challenge, where candidates often secure future roles before starting a current one. ALSO READ: Coldplay's Chris Martin shocks fans with his gesture amid breakup rumours with Dakota Johnson. Watch video Though the memo didn't specify which firms were making these offers, the CEO of the $730 billion banking powerhouse has previously voiced strong disapproval of the trend. 'I know a lot of you work at JPMorgan, you take a job at a private equity shop before you even start with us,' Dimon told a crowd of undergraduate business school students in September 2024. 'I'm going to say something a little different, okay, because I didn't talk about character. The most important thing about people's character, I think that's unethical. I don't like it.' Of course, the statement and subsequent action risk ruffling feathers with PE, which accounts for a significant chunk of JPMorgan's business. The two men also write that 'missing any part of the training programme' could also lead to termination and that 'avoiding potential conflicts of interest is crucial to maintaining the trust and confidence our clients place in us.' ALSO READ: Did Barron Trump predict Elon-Trump breakup? This hilarious video from inauguration sparks buzz However, Dimon argued that allowing junior analysts to gain experience at JPMorgan before moving on puts the bank at risk, as these employees might carry confidential information or proprietary insights with them. 'It puts us in a bad position, and it puts us in a conflicted position,' Dimon added. 'You are already working for somewhere else, and you're dealing with highly confidential information from JPMorgan, and I just don't like it.' 'You are already working for somewhere else, and you're dealing with highly confidential information from JPMorgan, and I just don't like it.' JPMorgan's salary structure Some younger financiers have criticized JPMorgan's new policy as difficult to enforce, with a senior bank insider telling The Post that it would rely entirely on 'trust.' 'JPMorgan is naïve to think this is either enforceable or sustainable,' a hedge fund analyst wrote on Wall Street Oasis, a forum frequented by American bankers. 'Private firms are also misguided if they believe recruiting analysts before they even start is a viable long-term strategy.' According to data from the same site, associates at private equity firms can earn up to $300,000 annually, with bonuses starting at a similar level. ALSO READ: Sydney Sweeney's limited-edition soap made with her actual bathwater goes live online, sells out instantly Meanwhile, Glassdoor—a recruiting and HR platform—shows associate bankers at JPMorgan earn between $197,000 and $289,000, excluding performance-based bonuses. JPMorgan isn't the only Wall Street giant grappling with poaching attempts from private equity firms. Goldman Sachs recently had to counter a high-profile recruitment effort targeting one of its top executives. To retain Chief Operating Officer John Waldron, the David Solomon-led firm awarded him an $80 million 'golden handcuffs' package earlier this year, along with a board seat. Waldron had been courted by Marc Rowan's Apollo Global Management for a major role. The retention bonus, which will fully vest over five years, is widely seen as an effort to keep the 55-year-old at Goldman—where he's viewed as a likely successor to Solomon as CEO.
Time of India
4 days ago
- Time of India
JPMorgan CEO Jamie Dimon 'looks at God' on his retirement, and says, I may …
JPMorgan CEO Jamie Dimon JPMorgan Chase CEO Jamie Dimon told Fox Business on Monday that his retirement from America's largest bank is still "several years away," leaving the final decision to divine providence and the board of directors. The 69-year-old banking titan, who has led JPMorgan for nearly two decades, indicated he might remain as executive chairman after stepping down from the CEO role. "It's up to God and the board," Dimon said in the taped interview. "There will be an appropriate time, and then I may stick around for a couple of years as chairman or executive chairman. I love what I do." Succession planning takes center stage The question of Dimon's successor has intensified following his 2024 announcement that retirement was "less than five years" away. JPMorgan's recent investor day became an unofficial audition for potential replacements, with analysts closely watching key executives including consumer banking chief Marianne Lake and corporate banking co-heads Doug Petno and Troy Rohrbaugh. Dimon previously joked that retirement was always "five years away" regardless of when asked, but has grown more serious about succession planning as the bank's board actively evaluates candidates. Record performance justifies hefty pay package Under Dimon's leadership, JPMorgan achieved record-breaking financial results in 2024, posting $58.5 billion in net income—the highest annual profit in American banking history. The stellar performance earned Dimon a substantial pay increase to $39 million, up 8.3% from the previous year's $36 million compensation. JPMorgan's stock has surged over 130% in the past five years, cementing the bank's position as Wall Street's most valuable financial institution. Despite this success, Dimon emphasized the importance of staying competitive against emerging fintech rivals like Stripe. "I don't sit here being complacent," he noted, advising aspiring leaders to "talk to everybody" and avoid becoming "weaponized by one side." AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
4 days ago
- Time of India
Now, a global bank holds a developer event in India
JPMorganChase, the world's biggest bank by market capitalisation, has over 20k engineers in India, and the developer conference is designed for them to learn from one another We got particularly excited by this story because, over the years, we've seen technology companies hold developer conferences – but a bank! JPMorganChase held a developer conference for the first time in India recently – signifying how important software development has become to every company, how much they are in-housing this instead of outsourcing it, and how important India is in this ecosystem. The world's largest bank (by market capitalisation) brought together 350 technologists from across its centres – mostly from India, but also some from overseas – in Hyderabad, with the objective of enabling its best engineers to learn from each other. Prior to this, the bank had held this conference, called DevUp, three times in its Plano, Texas, office. 'We decided a year ago that we wanted to bring DevUp into India because a third of our engineering talent (over 20,000 of the total of 63,000) is here. Engineers love engaging with engineers all over the globe,' Lori Beer , the bank's global chief information officer, told us when she came for the event. Various division CIOs nominate their best engineering talent to attend. Others are selected based on research abstracts they submit. AI was understandably a major discussion point. 'One team was showing how they automate the software development build process and reduce the time to build by 50%. Another group was showing how to make disaster recovery faster with automation,' Lori said, noting that one engineer said she learned the software build process (from the presenting team), called her own team up, and had them implement the change immediately. 'They did it last night. It's pretty amazing.' The bank has previously said it has built close to $2 billion in business value in AI. This has come from areas like fraud prevention, personalisation in the consumer banking space, and providing more relevant information to clients in the asset and wealth management space. Lori said the bank is now looking at agentic AI, the architecture and platform required to build agents on top of existing systems. A lot of this work is happening in India. 'One thing that's incredibly impressive is that the teams here don't sit on the trading floors, it's a US consumer business, and yet they know the business. I think it comes from their ingenuity, their desire to really dive in and understand,' Lori said. Lori Beer, Global Chief Information Officer, JPMorganChase Software engrs one of the bank's biggest job families Tech companies have developer conferences because they sell products for technologists to use. We're having them to learn from our own engineers. Software engineers are one of our biggest job families. We have over 300,000 people in JPMorganChase, and 60,000-plus are in technology. So we wanted to make sure we had a software engineering conference to build and develop not just leadership skills, but individual contributors' software engineering skills. That makes sense given also that the foundation of most of our products and services is technology. Lori Beer Vibhavari Jahagirdar, Head of Global Technology for India and Co-lead for Global Post Trade Technology, JPMorganChase Nothing like this in India I haven't seen anybody else doing an internal developer conference on this scale in India. What we are doing in tech is absolutely cutting edge, and in that scenario, the event highlights the strategic importance of India. Vibhavari Jahagirdar AI Masterclass for Students. Upskill Young Ones Today!– Join Now
