JPMorgan Chase hired Tahir Zafar, Nomura Holdings' international head of artificial intelligence strategy. The bank continues to expand its AI talent roster.
Zafar will join the firm in July. He will report to Deep Thomas, the bank's chief data and analytics officer for the Asia-Pacific region. This hiring highlights a broader trend of major financial institutions recruiting specialists for AI initiatives.
JPMorgan allocates a significant portion of its technology budget towards AI. For 2026, the bank's technology budget is approximately $19.8 billion. The bank designates around $1.2 billion for AI-related investments. Demand for AI expertise on Wall Street has intensified as banks compete to integrate the technology to improve efficiency and gain a competitive edge.