As Global Chief Information Officer of JP Morgan Chase, Lori Beer manages a $14 billion budget and more than 55,000 technologists across the bank's businesses. From adding a cloud-based core system to JP Morgan Chase's retail bank to leading the expansion of the company's technology hub in north Texas, Beer oversees the massive network that makes upgrades and technological advances happen.
The goal with her cloud-based core system project is to organize multiple projects into a single platform. That way, the company, which handles more than $8 trillion in transactions a day and serves more than 58 million digital customers worldwide, can organize and accommodate sudden shifts in customer needs.
Beer joined JPMorgan in 2014 as the CIO of corporate and investment banking. In 2017, she was named global CIO and joined the bank's operating committee.
The company has also reorganized its blockchain unit, putting it in a better position to address an expansion of cross-border transactions.
The projects are part of a larger passion Beer has for technology and software engineering. Along with her husband Bill, Beer has created a large STEM scholarship at University of Dayton, her alma mater. Beer— a former software engineer— is also overseeing a scholarship program at the University of Cincinnati's business school dedicated to bringing more women into STEM fields.
Beer has also increased the firm's investment in programs focused on helping women and girls build successful STEM careers, such as Girls Who Code. Under her leadership, the firm expanded its work with the organization as the inaugural partner for its Work Prep Initiative, designed to introduce college-aged women to tech career pathways.
It is all part of a long-term commitment that Beer brings to the tech sector. She was hired by JP Morgan Chase in 2014, and became the first CIO to sit on the firm's operating committee. With the firm's chief data officer reporting directly to her, Beer is responsible for the entire company's data strategy. This strategy is central to JP Morgan Chase's dedication to more AI products.
Among her recent projects: launching new features for the Manager Excellence program, which aims to enhance technology managers' leadership skills.
