June 14, 2010

New York-based JPMorgan Chase announced today it has hired Jack Stephenson as director of mobile, e-commerce and payments. Stephenson previously served as senior vice president of strategy, partnerships, analytics and new ventures at PayPal.

He will lead JPMorgan Chase's ongoing effort to develop mobile and Internet payments.

"We know how important technology has become in serving our customers well, and Jack has the experience, expertise and vision to help us do even more for them," said Jay Mandelbaum, JPMorgan Chase head of strategy and development. "He will focus primarily on developing new products and services for consumers, merchants and small businesses."

Chase says it serves some 28 million customers online and about 3.3 million mobile banking customers, a number the bank claims is growing by 600,000 each month.