Deutsche Bank has poached data specialist David Gleason from JPMorgan Chase in an attempt to better monetise the lender’s vast store of client and transaction data.

Mr Gleason is joining Germany’s largest lender as chief data officer for global transaction banking, according to an internal memo seen by the Financial Times.

“This is a new role that underscores the enormous opportunity we have in front of us when it comes to leveraging the vast amount of data our systems produce every day for client, internal and regulatory purposes,” Thomas Nielsen, chief digital officer of Deutsche Bank’s transaction bank, wrote in a note to the bank’s staff.

A spokesperson for Deutsche Bank confirmed the authenticity of the memo.

Mr Gleason will be based in New York, running a team of about ten data specialists that will look for better ways to analyse and use the bank’s data.

This follows Deutsche Bank’s creation of a consolidated data pool in Dublin in 2016, where it employs around 100 data science and technology specialists. Mr Gleason’s task will be to develop new business models that use the lender’s existing data.

In his previous role at JPMorgan, Mr Gleason worked on data strategy and data management.

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