Benjie Fraser, JPMorgan’s global pensions executive based in London, flies to Australia and around the world talking about the initiatives of some of the world’s biggest pension funds. Fraser’s blog has a following among Australian superannuation executives.
“Consolidation is driving change,” says Gray. “As funds get larger it is easier for us to demonstrate our strengths.”
It was not always like this. When Gray joined JPMorgan from State Street in July 2001, the bank’s business was in silos.
“It was custody and investment banking and never the twain shall meet,” says Gray.
That changed when Jamie Dimon became JPMorgan’s chief executive in 2006. Dimon’s mantra of collaboration is reinforced by the bank’s chief in Australia Rob Priestley.
JPMorgan’s new Sydney offices on Castlereagh Street are designed to foster cooperation. Three huge flat screens with three cameras can beam pictures of Australian staff to JPMorgan employees in other parts of the world sitting in an identical set up so that the participants on video calls may believe they are in the same room.
In the bank’s Sydney offices people sit at desks with very low partitions dividing them from others so that they can easily catch the eye of a colleague and discuss a matter. Gray says he often finds people getting together in specifically designed lounge-like areas to have informal discussions on business.
“As we support our clients’ changing needs, bringing together all the experts that support those clients and having them communicate effectively is going to be critical in successfully servicing clients in the future,” says Gray.
