JPMorgan Chase is reorganizing its commercial and investment bank (CIB) as part of a broader push to accelerate its adoption of artificial intelligence. The restructuring aims to streamline decision-making and enhance the bank’s ability to deploy AI across its operations, according to an internal memo seen by Business Insider. The memo, signed by CIB co-CEOs Doug Petno and Troy Rohrbaugh, announced the appointment of Guy Halamish as the division’s new chief operating officer. Halamish will lead efforts to "harness the power of our data and fully leverage rapidly evolving AI capabilities," the memo stated. His role marks a key step in JPMorgan’s strategy to break down silos and drive faster innovation. Under the new structure, each major business unit within the CIB—banking, markets, payments, and securities services—will have its own chief data and analytics officer. These officers will report jointly to Halamish and the respective business leaders, ensuring tighter alignment between data strategy and operational goals. The move follows recent hires, including Zachery Anderson, who joined as chief data and analytics officer for the payments division after nearly six years at UK-based NatWest. In a LinkedIn post announcing his new role, Anderson said he is eager to "push the edge of the possible with AI." The reorganization is designed to support broader transformation initiatives, including modernizing infrastructure to support advanced AI systems and the growing use of AI agents. It will also focus on streamlining processes like client onboarding and improving data-driven decision-making across the division. The CIB remains a critical profit engine for JPMorgan. In 2024, it generated $25 billion in net income—nearly half of the firm’s total $58.5 billion in annual earnings. Backed by a roughly $18 billion technology budget last year, JPMorgan is among the financial industry’s most aggressive investors in AI. The bank has developed its own proprietary generative AI platform and is rolling out additional tools to support both internal operations and client services. CEO Jamie Dimon has consistently defended the bank’s heavy AI spending. On a recent earnings call, he said, “We are going to stay out front, so help us God.”