JPMorgan Replaces Quantum Research Heads Amid Tech Pivot

JPMorgan has appointed Rob Otter, formerly State Street's global head of digital tech and quantum computing, to lead its quantum computing research team. Otter's extensive background includes running JPMorgan's Onyx blockchain unit and senior tech roles at Barclays, Credit Suisse, and Goldman Sachs.

The MOVE follows the quiet departures of Marco Pistoia, who led JPMorgan's applied research team since 2020, and Charles Lim, the bank's global head of quantum communications and cryptography. Neither exit was publicly announced, reflecting JPMorgan's discreet handling of executive transitions.

The applied research group, now under Otter's leadership, explores cutting-edge technologies like quantum computing, crypto-related systems, and network tech. This reshuffle comes as quantum computing gains mainstream traction, with giants like Alphabet and IBM racing to build machines that outperform traditional systems.