JPMorgan is reorganizing its commercial and investment bank to accelerate its AI strategy, according to an internal memo. The firm has appointed Guy Halamish as COO of the CIB, where he will oversee newly created data and analytics leaders tasked with advancing AI adoption across the division.
Under the new structure, each major unit — including banking, markets, payments, and securities services — will have a chief data and analytics officer reporting to both Halamish and business heads. The move is designed to break down silos, modernize infrastructure, and expand the use of advanced AI systems and agents.
The CIB is one of JPMorgan’s largest profit engines, generating $25 billion of the bank’s $58.5 billion net income in 2024. Backed by an annual technology budget of roughly $18 billion, JPMorgan has positioned itself as a leader in AI within finance, developing proprietary generative AI tools and expanding internal training programs.
CEO Jamie Dimon has defended the bank’s heavy tech spending, arguing that sustained investment is necessary to compete not only with traditional banks but also fintech firms. “We are going to stay out front,” Dimon said, emphasizing that failing to invest in AI risks falling behind.