JPMorgan Hires Former U.S Army Cyber Chief
JPMorgan Chase, which was felled by a major cyberattack last year, is bringing on retired Army chief of staff Gen. Raymond Odierno to advise the company on managing cybersecurity risks
The hiring of Odierno, who will also counsel the board on technology and risks related to doing business in other countries, is part of the bank’s larger cybersecurity budget ramp-up. Recent regulatory filings show JPMorgan expects to nearly double its digital defense spending, to about $500 million this year. The boost comes after a hack last summer that exposed sensitive data on more than 83 million households and businesses.
It was initially believed that Russian hackers were behind the digital theft. But the recent arrest of four people who reportedly played a role in the attack has complicated the assertion. The arrested individuals, Israeli and American citizens, appear to only have loose ties to Russian cyber crime rings.
Regardless, Odierno’s hiring shows the financial sector’s increased desire for expertise surrounding foreign adversaries and their technological capabilities.
Odierno most recently worked on issues in Russia. Just this month, he called the country “the most dangerous” threat to the US. The comments came as defense officials said they suspected Moscow was behind a hack of the Joint Chief of Staff's unclassified email server.
The four-star general also spent much of the last decade commanding forces in Iraq. And JPMorgan, said Odierno, will represent the bank in meetings with government officials and lawmakers.
Th Hill: http://http://bit.ly/1Kd0S81
