What Its Like ToGet The Job

1
What Its Like ToGet The Job

• By Austin Adams
• Presented by Sean Leibin

2
Who is he?

• Austin Adams is the former CIO of Bank One, and
  is now the corporate CIO of J.P. Morgan Chase, a
  top financial service company in the world.

3
Whats the deal?

• Adams was notified that Bank One would be merging
  with J.P. Morgan Chase.
• Initially, Adams spent 17 years as CIO of First
  Union, he had been through over 90 mergers and
  was used to it by now.
• For 2 months, he met with John Schmidlin, the CIO
  of J.P. Morgan Chase about 4 times a day to
  discuss the merger.

4
What happened?

• The two of them had to work with their teams to
  ensure all tasks got done throughout the merger.
• They had to decide which systems would be used
  with the new company.
• Adams stated that If there are 10 commandments
  of integration, one of them is that a mediocre
  decision is superior to no decision.

5
Then what?

• Adams didnt know whether or not he would be
  chosen for the CIO position of the newly merged
  entity, but he was prepared to handle the
  decision either way.
• He knew that if he didnt get it, he had at least
  selected a good team that would get the job done.

6
So who got the job?

• It took almost 2 months, but Adams finally got
  the call he was waiting for, and was told he
  would be the new CIO.
• The technology budget at Bank One was 1.8
  billion, at JPMC, its now 6.5 billion.
• Adams said the fundamentals of the job are the
  same, the only difference is the company now has
  a credible goal of being a top financial services
  firm in the world.

7
Questions?

• Sean Leibin
• MIS 202
• Feb. 24, 2005