United States investment bank JPMorgan which prides itself in being the first bank in the metaverse with the launch of a virtual lounge, is looking to expand its reach in the crypto ecosystem.
The Wall Street megabank intends to hire someone to push institutional payments products onto new crypto, Web3.0, and metaverse clients. The new development specialist job description will cut across JPMorgan’s technology, media, and telecom payments team on the West Coast.
According to a LinkedIn advert made by the firm, the position of Vice President-Payment Business Development Manager is open.
Once employed, the business specialist operations will be a part of the Technology, Media, and Telecom West Coast Payments Team. This team is currently accountable for “owning and managing relationships with large technology companies located in North America.”
The JPMorgan payment products under its jurisdiction are treasury services, merchant services, liquidity, working capital, and trade, as well as commercial cards. Similarly, the team delivers transactional FX, and escrow to JPMorgan clients.
JP Morgan Spells Out Hire’s Job Responsibilities
As part of the job role, the VP, of Payment Business Development will form collaborations with the firm’s numerous internal partners.
Together, they will come up with solutions and alternatives to strategically meet the complex needs of JPMorgan’s institutional clients. This hire will seek out prospects and improve client engagement on the firm’s platform.
To effectively deliver on his assignment, he would have to work together with other teams on the JPMorgan partner list. Some of such teams are Merchant Services, Working Capital & Trade, Treasury Services Sales, Corporate Bankers, and the Investment Bank.
Notably, the first key responsibility of this hire is to “identify and win new Payments opportunities in the Web3, Crypto, Fintech, & Metaverse industry subvertical, across Treasury Services, Merchant Services, Commercial Card and Trade, especially with clients where we have no or low wallet share.”
This month, a few crypto companies have stepped into the hiring market to expand their teams not minding the crypto winter.
A week ago, Cooper announced the appointment of Tim Neill as its Chief Risk Officer. Tim was the former Chief Risk Officer at Mastercard before now. Polygon has also declared openly plans to go on a massive recruitment spree before the end of the year.