JPMorgan introduces mandatory coding courses

So a far a third of the bank's analysts and associates have been trained to use Python coding, the paper reports, with courses in data science and machine learning also being drawn up.

Mary Callahan Erdoes, head of JPMorgan Asset Management, tells the FT: “By better understanding coding, our business teams can speak the same language as our technology teams, which ultimately drives better tools and solutions for our clients.” 

Elsewhere on Wall Street, the innovation bug is hitting Morgan Stanley, which is about to convert 1.2 million square feet of office space into a millennial playground. 

The firm's head of technology Rob Rooney tells Bloomberg: “The workplace needed to be designed around a much more dynamic, millennial kind of workforce. We’re trying to attract the next generation of the best and brightest.”

Dubbed 'Workplace Evolution, the programme will see wood-panelled offices abandoned in favour of glass partitions and interactive whiteboards and a more relaxed dress code.