Trump Taps Former JPMorgan Executive to Advise on Social Security Modernization

The Trump administration has appointed former JPMorgan Chase executive Matt Zames as an unpaid advisor to help modernize the Social Security Administration. Zames will assist Commissioner Frank Bisignano, his former colleague at JPMorgan, in driving agency modernization efforts.

Zames brings experience running technology and cost-reduction programs at a global financial institution, which may inform efforts to modernize SSA's administrative infrastructure. His background includes helping stabilize JPMorgan's operations following the $6 billion 'London Whale' trading loss in 2012.

The appointment reflects the administration's broader pattern of bringing private-sector executives into federal agency roles. However, the specific initiatives Zames will oversee have yet to be outlined.