Matt Zames, former chief operating officer at JPMorgan Chase, will join the Trump administration as an unpaid advisor to the Social Security Administration. He will be based at the agency’s headquarters in Baltimore, Maryland, and help his former colleague Frank Bisignano, who became Social Security Commissioner last year, tackle modernization. Zames spent over a decade at JPMorgan before leaving in 2017 and was seen as a leading candidate to succeed CEO Jamie Dimon. The SSA, which relies on decades-old technology systems, is projected to exhaust its trust fund in less than a decade, which could require benefit cuts for millions of Americans.
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