US investment bank JP Morgan has seemingly properly embraced the modern world of fintech operational parameters by hiring a machine learning expert to implement the technology of Machine Learning across it’s investable indices business.
Fredrik Giertz, an expert in the field of Machine Learning, has been placed as the vice president in equity derivatives structuring in the firm, which happens to be a newly-created role made for the machine learning savant.
Giertz will focus on improving and tweaking quantitative strategies that currently use machine learning techniques for his new employers. His experience in said field ranges from managing quantitative strategies in the low and alternate-risk categories all the way to cutting-edge machine learning algorithms that are fledgling and experimental in nature.
Fredrik Gietrz moved to JP Morgan from his previous job at the Third Swedish National Pension Fund, having been talent-scouted by JP Morgan after showing a talent for implementing cutting-edge theories of yield and profitability on a constant basis.
JP Morgan, in this recent acquisition, is showing to the investment community, that is it is willing to admit that the sands of financial success are shifting beneath their feet, and as such, is less and less hesitant to devote their resources into becoming a less reactive and potentially cutting edge company once again.
The old way of banking is ever-more increasingly becoming obsolete.
Tower Technology will happily fill the spot of financial institutions that are too complacent to keep pace with fintech developments.