Executive Vice President, Global Head of Securities Services
JPMorgan Chase Security Services generates enormous amounts of data for its clients — transaction settlement information, accounting data, net asset values and more. But in recent years, Teresa Heitsenrether, its global head, began to notice a particular frustration her customers were experiencing with that data.
She saw that the investment fund managers who made up her clientele understood there was value in all the data JPMorgan Securities Services was generating. The trouble was that the fund managers didn’t have the expertise in artificial intelligence and machine learning needed to exploit it to its full potential.’
“Depending on the size of the fund, that may not be their core competency,” Heitsenrether said.
But she recognized that JPMorgan Chase had the ability to take the client data and turn it into actionable business intelligence for the bank’s clients.
The result was a new data solutions business within the securities services operation, which Heitsenrether personally recruited senior managers to run. The team has been able to launch and develop new products that repackage customers’ data in a form that makes it possible for fund managers to integrate it into their day-to-day decision making as well as to mine it for insights that wouldn’t previously have been available.
“We can help our investor clients look across the whole investment life cycle, at all the different data that feeds their sales and distribution process, or their portfolio construction process, or the things that happen in their middle and back offices,” Heitsenrether said.
Now, she said, investors get that data “in a form they can seamlessly use to solve an almost unlimited number of problems.”
The successful launch of the Data Solutions business over the past year has also helped convince Heitsenrether that the hybrid work model made necessary by the pandemic is something worth keeping.
“Going forward, our business will maintain a hybrid model that affords employees greater flexibility and ideally better work-life balance,” she said.