JPMorgan Chase is hiring Tahir Zafar, Nomura's international head of AI strategy, who will report to Deep Thomas — himself a former Nomura executive. The move reflects CEO Jamie Dimon's stated intent to hire more AI specialists and fewer traditional bankers. JPMorgan has a $19.8 billion tech budget for 2026 with $1.2 billion earmarked for AI, and 150,000 employees already use its internal LLM weekly. The broader banking sector is undergoing similar shifts: Morgan Stanley forecasts 400,000 European banking jobs eliminated by AI by 2030, and ex-bankers are charging up to $25,000 a day to train institutions on AI tools they've already bought but haven't deployed effectively.
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