Trump Taps JPMorgan Vet for Social Security Overhaul

The Trump administration has enlisted former JPMorgan COO Matt Zames to guide the Social Security Administration's overhaul, starting Monday at the agency's Baltimore headquarters. Zames will assist Commissioner Frank Bisignano, his former JPMorgan colleague, with modernizing the agency.

Zames brings extensive large-scale operations experience, having served as JPMorgan's chief operating officer for about five years. During this time, he spearheaded technology and cost-cutting projects at the bank. He also helped manage the aftermath of the bank's $6 billion 'London Whale' trading losses.

The unpaid role is intended to be operational in focus rather than ceremonial, with Zames expected to engage directly with the commissioner's modernization agenda. The appointment adds a financial-sector operations veteran to the Social Security Administration's leadership orbit at a time when the agency is pursuing modernization under Commissioner Bisignano.