Both Wells Fargo and JPMorgan Chase are in the middle of digital revolutions of their respective mortgage businesses.
And apparently Wells Fargo liked Chase’s approach so much that the company is hiring away one of the leaders of Chase’s mortgage tech transformation.
Wells Fargo announced Monday that it is hiring Steve Hagerman to serve as the company’s head of consumer lending technology.
Previously, Hagerman was chief technology officer, managing director and head of home lending originations technology for JPMorgan Chase.
In that role, Hagerman was responsible for Chase’s first mortgage, home equity, and correspondent lending platforms.
Chase’s mortgage business has been undergoing a digital transformation over the last several years, with Hagerman helping to lead the charge.
Hagerman spent 17 years at JPMorgan Chase, holding various senior leadership positions in technology, including chief technology officer of customer service operations, chief technology officer of consumer and community banking, and head of consumer branch and ATM Infrastructure.
Earlier in his career, Hagerman held positions at Bank One, Vobix Corp. and Lexis-Nexis.
At Wells Fargo, Hagerman will be “responsible for supporting Wells Fargo’s new and emerging technology platforms, allowing the consumer lines of business to evolve and grow their product sets,” the company said in a release.
Hagerman will begin working at Wells Fargo in early August and will be reporting to Saul Van Beurden, Wells Fargo’s head of technology.
Hagerman isn’t the only new hire Wells Fargo is making.
The bank is also hiring Gary Owen as chief information security officer and head of information security.
As chief information security officer, Owen will be “responsible for maintaining and continuing to enhance Wells Fargo’s comprehensive risk and information security framework,” the company said. Owen will also lead information security strategy and governance, identity and access management, security engineering, line-of-business engagement and cyber defense and monitoring.
Owen brings nearly 30 years of experience to the role.
Most recently, Owen was chief information security officer at WarnerMedia, the media conglomerate formerly known as Time Warner.
In that role, Owen was responsible for global information security strategy, technology risk management, information protection and compliance.
Earlier in his career, Owen developed and led the cybersecurity and technology risk practice at Promontory Financial Group. Owen also held executive roles in information security with Goldman Sachs and Citigroup.
Owen will also report to Van Beurden and will start with Wells Fargo on May 31.
“Gary and Steve bring a wealth of technology experience to our organization,” Van Beurden said. “Their leadership will be critical as we continue to provide innovative and secure banking technology to our customers.”