JPMorgan investment banking head outlines a 'major priority'

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JPMorgan investment bank head Daniel Pinto said internal technology projects, including those focused on blockchain, big data and robotics, will be a 'major priority' next year.

Bloomberg News reports that the bank will 'aggressively pursue the innovative technologies that we have been making investments in', Pinto said in a year-end memo to employees this week.

'Internal working groups have made significant advances this year and will be provided even more freedom to develop market leading platforms in 2016'.

Wall Street firms, looking to cut expenses and fend off upstarts, are investing in technologies that increase automation and ease transactions. Blockchain is the bitcoin-linked software ledger that’s touted as a way to speed up and simplify how financial transactions are recorded. Investment banks that successfully adopt automated trading and other measures can increase profit by 30%, McKinsey & Co. said in an October report.

To access the complete Bloomberg News article hit the link below:

JPMorgan's Pinto Says Technology Investments a Priority in 2016

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