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Banks are still hiring Stripe, Monzo and other fintech alumni as MDs in 2024

The fintech industry may be going through a rough patch, but don't assume you can't still leverage it for a swanky new job in investment banking. A number of senior figures at major fintechs have departed for traditional finance already in 2024 and JPMorgan looks to be the most common destination.

Last month, Joe Caraballo joined JPMorgan as head of industry and client solutions for payments. He's worked at a number of payments giants, including Stripe and Adyen, but most recently worked on strategic partnerships at Seattle based fintech Convera. However, chief commercial officer Jennifer Parker was an MD in JPMorgan's commercial bank; she joined last May meaning the movement's not entirely in one direction.

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Another ex-fintech addition to JPMorgan was Jag Gill in January, who joined as head of technical program management for the bank's developer platform. Gill was at PayPal for almost nine years, but spent the last year as a senior director at Meta, working on projects in the Metaverse. Geetha Premraj also joined JPMorgan's notoriously generous California office after over two years as an engineering product head for digibank Chime in San Francisco.

Another bank interested in fintech people is HSBC. Last month, it hired MD Kelly Moses from PayPal as head of global payment solutions legal. In January, it brought in an audit director from Monzo, Tammy Naicker, to be head of IAM control framework for audits, risk and assurance. 

What's interesting is just how few of these hires have spent time in banks before joining them now.  Only Naicker had a prior banking career, and that was a seven-month stint at Barclays back in 2009. Evidently, those moving to finance from fintech are not just ex-bankers that left for a startup and are now regretting it.

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AUTHORAlex McMurray Editor

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