Zames Joins SSA as Unpaid Advisor for Modernization Efforts

Former JPMorgan COO Matt Zames has taken an unpaid advisor role at the Social Security Administration, starting Monday at the agency's Baltimore headquarters. He will assist Commissioner Frank Bisignano, a former JPMorgan colleague, with modernization efforts.

Zames rose to prominence after helping clean up JPMorgan's $6 billion 'London Whale' trading loss in 2012-13. As COO from 2013 to 2017, he led technology and cost-cutting initiatives at the lender.

The move suggests an effort to bring private-sector operational expertise to one of the federal government's largest agencies. Zames' background in technology deployment and cost reduction may become priorities as the Social Security Administration updates its operations.