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After spending $236 million to acquire struggling investment giant Bear Stearns this week, JP Morgan Chase now faces a major technology challenge -- combining the two firms' sprawling storage and server infrastructures.
Both companies' directors approved the rescue deal on Sunday, just days after Bear Stearns received emergency funds from the Federal Reserve of New York in an attempt to keep the troubled firm afloat.
When the dust finally settles on the merger, the two companies' IT teams will face the unenviable task of merging their IT infrastructures, which are reputed to be very different.
JP Morgan, for example, has more than 14 Pbytes of active storage in a rapidly growing infrastructure regarded as one of the world's largest SANs. The bank also sent shockwaves through the financial community four years ago when it ended a massive, $5 billion, seven-year outsourcing deal with IBM, preferring to bring its systems back in-house.
The bank has also earned a reputation as a technology trailblazer, deploying InfiniBand as its technology backbone in 2005, and working with Sun's Solaris 10 operating system to build virtual data centers and compute-intensive grids.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
