A memo reviewed by Business Insider quoted the bank as saying, "With the foundations now in place, and AI delivery shifting more to business and functions, we believe that aligning CDAO with Global Technology will best position us to continue our momentum to deliver for our clients and colleagues." The same internal document disclosed that Gerard Francis, previously serving as chief product officer for data and AI, is departing the company. Manuela Veloso, who led AI research, departed in February after an eight-year stint.
The reshuffle reflects a broader trend in banking: institutions are moving AI from experimental labs into daily operations. JPMorgan's technology investment - among the largest in finance - has already produced a large pipeline of applications in lending, trading, fraud detection, and customer service. The leadership changes aim to accelerate that transition by embedding AI directly into business units.
Lori Beer serves as the global chief information officer, overseeing all systems and infrastructure. She sits on the operating committee and also controls the bank's massive technology spending and its nearly 65,000 technologists. Beer came to JPMorgan in 2014.
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Scot Baldry, who was previously chief technology officer, is now assuming the additional role of chief data and analytics officer after Heitsenrether's departure. As chief data and analytics officer, Baldry will lead the bank's comprehensive AI program and strategic direction. Before relocating to JPMorgan's London office in 2022, Baldry had worked for T. Rowe Price, Credit Suisse, and Goldman Sachs; he now reports to Beer. According to the internal memo, his team will "focus on AI & data strategy and governance, commercialization and value delivery, and external engagement with policymakers, regulators and the broader ecosystem."
Manoj Sindhwani, who already served as CIO for AI, machine learning, and data platforms, is now also overseeing the bank's data and AI product group. Sindhwani now manages staff who create and develop the bank's company-wide data platforms and carry out the overarching strategy. Sindhwani joined JPMorgan in 2024, following roughly ten years at Amazon; he reports to Beer.
William Patrick Opet's duties cover cybersecurity, technology controls, and risk management. In this capacity, Opet makes sure the bank's AI systems remain secure and properly governed. Opet, who reports to Beer, joined JPMorgan in 2014 following a tenure at Lockheed Martin, and has held his current role since 2021.
Mark Birkhead, the firmwide chief data officer, ensures the bank's data is AI-ready. The bank holds over an exabyte of data - equivalent to one billion gigabytes - across its operations. Birkhead, a JPMorgan hire from 2020 who reports to Baldry, remarked on LinkedIn that "data strategy is the competitive differentiator in banking."
Arvind Joshi oversees JPMorgan's technology spending, which totals nearly $20 billion each year and includes allocations for AI. Joshi is in charge of resource distribution and has discussed on LinkedIn the need to manage AI token costs. Joshi has spent over twenty years at JPMorgan and reports to Beer.
Sumitra Ganesh stepped into the role of head of AI research in February, the newest chapter in her ten-year tenure at the bank. Veloso launched the research group in 2018; by April, JPMorgan boasted the biggest AI research team of the 50 banks monitored by Evident AI. According to her LinkedIn, Ganesh's research has centered on multi-agent systems in finance.
JPMorgan's enormous technology footprint has already laid a strong foundation. The leadership reshuffle is designed to accelerate the move from research and development to real-world business use, embedding AI into lending, trading, fraud detection, and customer service. By consolidating data and analytics under Global Technology, the bank aims to streamline decision-making and better integrate AI with existing systems, a shift that could improve efficiency and competitiveness across its operations.
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