Investment Bankers Must Master Blockchain: JPMorgan Exec

By Swati Kishore

Huang Guobin, JPMorgan Chase’s Head of Global Investment Banking in China, recently elaborated on the investment bank’s most recent approach to the FinTech and Blockchain Technology industry.

A local news outlet has revealed that Huang holds the belief that investment experts should upgrade their skills to gain an understanding of emerging technologies such as Blockchain since customer needs and business logic will play a pivotal role in the industries of the future.

According to the finance expert, any players that are unable to adapt to the technologies of tomorrow will become obsolete. Huang was quoted as saying,

“For the current investment banking structure, we have made a subversive reform of all in tech. This customer-centric, technology-oriented ‘axis’ industry structure has three characteristics. First, the entire platform of our service must be technology-oriented, and all industries have technological elements, so it is called all in tech. Second, all investment bankers must master basic technical skills and have scientific DNA, otherwise, they will not survive. Third, our industry settings are different from traditional industry coverage models. Our industry settings are designed based on business logic, customer needs, and business needs. For example, logistics, excellent guest workshops are all B2B companies. We classify them as corporate and technology service groups. B2C companies such as e-commerce, leisure, and retail are directly serving individual companies through AI and other technologies. We call it the Digital Path Industry Group.”

Huang also believes that the segmentation of industries will continue to change. According to the expert, the Jack Ma-owned financial services company Ant Financial can be put into the category of Technology Media Telecom along with other investment banks.

Platforms such as WeChat and Alibaba-owned AliPay are flourishing in China with an increasing number of people turning to these apps for payment. Huang explained,

“Many young people are very excited. They feel that they are all technology investment bankers. Although they will not turn around overnight, at least young people have the opportunity to understand technology. The 200-year reform will serve as a reference. Whether we succeed or fail, we can share our experience and pave the way for future generations.”

Huang was appointed as the Head of Global Investment Banking in China in the year 2015 after he departed from Goldman Sachs.

While CEO James Dimon has called Bitcoin a fraud, however, the New York-based investment banking company has welcomed the emerging Blockchain Technology with open arms.