IonQ Hires Former JPMorgan Applied Research Head to Drive Quantum Adoption

Washington, D.C. — Quantum computing firm IonQ has brought on Marco Pistoia, the former head of applied research at JPMorgan Chase, to lead its industry outreach efforts as the company accelerates its push to bring quantum technologies into the corporate world.

Pistoia, who led JPMorgan’s internal research group from 2020 until earlier this year, will join IonQ as Senior Vice President of Industry Relations, the company confirmed Monday. He will report directly to CEO Niccolo de Masi and focus on helping businesses adopt quantum computing technologies and quantum-safe encryption methods.

“I believe that usable quantum computers are much closer now, we are talking about two to three years from now,” Pistoia said in an interview.

IonQ is among the leading publicly listed companies focused solely on quantum computing, alongside firms like Rigetti and D-Wave. Its hiring of a high-profile expert like Pistoia highlights the industry’s shift from experimentation to real-world application.

Pistoia said that one of his top priorities will be to help companies prepare for the security challenges posed by quantum computing. "There is a huge risk that quantum poses against cryptography,” he said. “Bad actors could take any public key and reverse-engineer the corresponding private key.”

The potential for quantum computers to break current encryption standards has raised alarms in the finance and cybersecurity sectors. Pistoia emphasized the importance of transitioning to quantum-safe cryptography before commercial quantum machines become powerful enough to pose a real threat.

During his tenure at JPMorgan, Pistoia oversaw initiatives related to quantum computing, blockchain, and advanced algorithms. While JPMorgan did not comment on the hire, Pistoia said he hopes to continue collaborating with the bank and other financial institutions on future quantum projects.

His appointment comes as interest in quantum computing continues to rise. Shares of IonQ and its peers have gained traction over the past year, driven by investor optimism and growing awareness of quantum’s potential impact on industries ranging from finance to pharmaceuticals.