Trading Technology

04:40 PM
Connect Directly
RSS
E-Mail
50%
50%

John Galante Applies Strong Work Ethic at JPMorgan

Best-in-class reporting system deployed globally to more than 1.000 clients. With $15.2 trillion in assets under custody demands superior processing engines. Relationships/intern programs with key universities guarantees a wealth of future talent.


JPMorgan Chase & Co.
John Galante
SVP and CTO, JPMorgan Worldwide Securities Services

John Galante JPMorgan

JPMorgan Chase & Co.
270 Park Ave.
New York, NY 10017

SIZE OF FIRM:
$15.2 trillion in assets under custody.

PREVIOUS POSITIONS:
Various positions at Salomon Brothers, Merrill Lynch and Citigroup.

EDUCATION:
B.S. in education, Long Island University.

WHO INFLUENCED YOU THE MOST IN YOUR CAREER?
My father was a carpenter and a floor-layer, and he always stressed to my brothers and me that the quality of your work is what represents you. So whether you're cutting carpet or building a reporting tool for clients, if you take pride in your work, people will appreciate it and most important, you'll appreciate it.

WHAT WORK EXPERIENCE HAD THE MOST LASTING IMPRESSION ON YOUR CAREER?
Because I've been on Wall Street for more than 25 years, I've seen the evolution of technology. I've also seen that some things withstand the test of time -- building, maintaining and providing accurate and timely data that's comprehensive in nature; delivering on service-level agreements; and continually exceeding your clients' expectations. Those things were important 25 years ago, and they're still important today.

LAST GOOD BOOK YOU READ:
"The Kite Runner," by Khaled Hosseini.

What's Next?
Our clients are crossing over in terms of the assets in which they're investing. A number of our clients are growing their derivatives portfolios and their private equities portfolios, and there's the growth of the hedge fund industry. Our next big thing is to make sure we're providing an integrated offering for those clients and staying ahead of their demands.

VITALS

IT Budget:

More than $600 million per year on data infrastructure, investments and production.

Key Technology Management:

N/A

Size of Technology Team:

About 1,500 technology professionals located in the U.S., U.K., Australia and India.

Percent of IT Projects Outsourced:

The management of all IT projects is in-house.

Key Technology Partners:

Microsoft, IBM, SunGard, DST, Advent Geneva.

Success Metrics:

We have a formal project delivery framework, and we have surveys to determine if we've met the objectives of the program.

2008 INITIATIVES

  • We're going to continue with the client- facing technology and processing powerhouse projects.
  • We'll also look into additional opportunities in alternative investments, including what our clients are doing in that space and how we can integrate other alternative investments capabilities with our core offerings to clients who are stepping into those areas.
  • TOP 3 CURRENT PROJECTS

    VIEWS Portfolio Reporting

    As part of our overall effort to have the best client-facing technology in the business, we've built and deployed a best-in-class client reporting system called VIEWS portfolio reporting. It's the ultimate system in terms of providing data in reports, data in files, or via scheduled or ad hoc capabilities through the Internet, and has the ability to feed our clients directly. We've deployed it globally to more than 1,000 clients, and we're continuing to enhance it. By the end of the year, it will be available in a half-dozen languages.

    Processing Powerhouse

    With $14.7 trillion in assets under custody, we have to make sure that we have excellent processing engines that not only can support continual growth, but also support peak-period capacity. We always measure our capacity and ensure that our systems have three-times peak capacity. We're really leveraging our vendors' strengths so that we can support our clients and take on large-transformation clients, such as the Freddie Mac portfolio we took on last year, which was the largest U.S. custody transition ever transacted.

    Recruiting Top Talent

    We have a big initiative around making sure we have diverse talent. Throughout our major campuses in Dallas; Bournemouth, England; and Sydney, we have close relationships with key universities and have an intern program for engineering and computer science students in their junior year. We also have a graduate program in which we bring in recent college grads who go through a training period and then join our team.

    Comment  | 
    Print  | 
    More Insights
    Register for Wall Street & Technology Newsletters
    White Papers
    Current Issue
    Wall Street & Technology - Elite 8, October 2014
    The in-depth profiles of this year's Elite 8 honorees focus on leadership, talent recruitment, big data, analytics, mobile, and more.
    Video
    Exclusive: Inside the GETCO Execution Services Trading Floor
    Exclusive: Inside the GETCO Execution Services Trading Floor
    Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.