J.P. Morgan Creates Exec. Role for Cloud Service; Stock Rises

Is the cloud for real for banking?

J.P. Morgan thinks so. They’ve hired Harish Grama, formerly of IBM, as chief information officer for cloud services.

An internal memo obtained by American Banker says:

“Harish has extensive experience in leading large globally distributed organizations in cloud native offerings, Additionally, he was a key leader in driving the transformation of IBM’s developer workforce.”

J.P. Morgan is planning to use public and private clouds — a “hybrid” cloud model. And, indeed, as of late August, J.P. Morgan shares were gaining on the heels of the news.

Another in a series of mainstream moves to leverage the power of the cloud – – the secret is out.  If you’d like to test out a cloud app, the Owhere Test Cloud from OrboAnywhere, is available. Let us know!