As per confirmation by spokeswoman for JPMorgan Chase & Co, on its European board, the bank appointed the technology heads of two FTSE 100 companies as non-executive directors; in that too it depicted an increasing importance of the sector to banks.
For information, JP Morgan Securities PLC, the main legal unit for its European, Middle East and African business welcomes Jane Moran as Global Chief Information Officer at Unilever PLC and Monique Shivanandan as Chief Information officer at London-based insurer Aviva PLC.
An annual report of year 2014 states the bank to be spending approx. 8% – 9% of its revenues on technology that as a total makes up US$ 9 billion/year.
An early annual study 2015, released to Press revealed how Cyber Attacks are targeting banks with security hazards. According to the study, majority of U.S. brokerage firms surveyed by the Securities and Exchange Commission stated to have had been targeted by some form of a cyber attackers.
For the first time in history, JPMorgan was targeted too – contact information of more than 83 million customers was stolen. However, U.S. prosecutors charged three men with carrying out the attack in November this year.
As for the bank’s stock, it elevated 0.23%, closing at US$ 65.61 with the overall traded volume of 12,812,496 shares.
Apart from this, a US$ 50,000 investment by JPMorgan Chase & Co. in a Tampa Bay nonprofit could give local technology companies a stronger field of job candidates in the future. The stock price is going above to its 52 week low with 31.98 % and lagging above from its 52 week high with -6.41 %. Analyst recommendation for this stock stands at 1.90. A look on the firm performance, its monthly performance is 3.06% and a quarterly performance of 5.63%. It is trading downbeat from its 20 days moving average with -1.70% and up from 50 days moving average with 1.29%.