JPMorgan Appoints FTSE 100 Technology Heads to European Board

By Giles Turner

JPMorgan Chase & Co. (JPM) has appointed the technology heads of two FTSE 100 companies as non-executive directors on its European board, demonstrating the increasing importance of the sector to banks.

Jane Moran, global chief information officer at Unilever PLC (UL), and Monique Shivanandan, chief information officer at London-based insurer Aviva PLC (AV), have joined JP Morgan Securities PLC, the main legal unit for its European, Middle East and African business.

A spokeswoman for the bank confirmed the appointments.

Cyber attacks have become a pressing issue for banks, with the majority of U.S. brokerage firms surveyed by the Securities and Exchange Commission saying they had been targeted by some form of a cyber attack, according to a study by the regulator published early this year.

JPMorgan has been a victim of one of the largest cybercrimes in history, when contact information of more than 83 million customers was stolen. Last month, U.S. prosecutors charged three men with carrying out the attack.

JPMorgan spent between 8% and 9% of its revenues on technology, about $9 billion a year, according to its 2014 annual report.

Write to Giles Turner at [e-mail]

(END) Dow Jones Newswires

December 11, 2015 07:44 ET (12:44 GMT)

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