JPMorgan Chase has recruited an IBM executive to oversee its adoption of cloud services.

Harish Grama will join the firm next week as its chief information officer for cloud services, according to an internal memo from Dana Deasy, global chief information officer, that was obtained by American Banker. The new hire was first reported by The Wall Street Journal.

Grama will oversee relationships with external cloud providers and will chair the cloud steering committee, according to the memo. He will also develop a strategy to retrain JPMorgan developers to create cloud-native applications.

Grama spent the last 20 years at IBM in various software development roles. He was most recently head of software development for IBM's cloud unit, according to the memo.

"Harish has extensive experience in leading large globally distributed organizations in cloud native offerings," the memo said. "Additionally, he was a key leader in driving the transformation of IBM's developer workforce."

JPMorgan is pursuing a "hybrid cloud model," which means it is looking to use both public and private clouds. The company has dubbed its private cloud Gaia. The use of cloud technology is appealing to banks because it promises greater efficiencies and should make it easier for the bank to adopt newer technology. However, security risks are the downside.