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Trump Administration Appoints Former JPMorgan Executive Matt Zames to Social Security Role
Finance · Major Banks · cnbc · 2026-08-21
JPM, DB
Former JPMorgan Chase COO Matt Zames has been tapped as an unpaid advisor to help modernize the Social Security Administration's aging technology infrastructure.
What Happened
Strategic Appointment: Matt Zames, a former chief operating officer at JPMorgan Chase, has joined the Social Security Administration as an unpaid advisor. He will work alongside Commissioner Frank Bisignano to spearhead critical modernization efforts for the agency's outdated systems.
Professional Background: Zames brings extensive experience in technology and cost-reduction initiatives from his tenure at JPMorgan and his leadership role at private equity firm Cerberus. He previously served on various Federal Reserve and Treasury advisory boards, positioning him as a seasoned expert in complex institutional restructuring.
Operational Challenges: The Social Security Administration currently faces significant hurdles, including reliance on legacy technology and a projected depletion of its trust fund within the next decade. Zames's mandate focuses on addressing these systemic inefficiencies to ensure the agency remains functional for millions of beneficiaries.
Terms of Engagement: Serving as a special government employee, Zames will work on a part-time basis with a 130-day limit on his appointment. His arrival at the Baltimore headquarters signals a push by the administration to integrate private-sector efficiency into federal operations.