JPMorgan Says Attracting Silicon Valley Talent Important to Its Tech Strategy

JPMorgan (JMP) wants to bring talent from Silicon Valley into its company in order to boost its tech performance.

"Technology is at the core of what we do," JPMorgan COO Matt Zames said in the company's letter to shareholders. "Advances in technology make us faster and safer and drive a more engaging customer experience."

The company has a technology budget of over $9.5 billion.

"Attracting, retaining, and developing top technology talent is paramount, and we cast a net far and wide to find the best and brightest," Zames continued.

More from Stocks

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Canopy Growth: First Cannabis Firm on the NYSE Fails to Generate Buzz

Canopy Growth: First Cannabis Firm on the NYSE Fails to Generate Buzz

PayPal Wants to Consolidate the World of Rewards Points

PayPal Wants to Consolidate the World of Rewards Points

Rising Oil Prices Will Be a Wash for U.S. Economy, JPMorgan Says

Rising Oil Prices Will Be a Wash for U.S. Economy, JPMorgan Says