JPMorgan has reorganized its technology and analytics divisions, merging machine-learning experts, quants and IT under two new global AI executive posts. The reshuffle elevates a veteran technologist to oversee generative AI deployment in trading algorithms, risk models and client insights, aiming to accelerate product innovation.

The firm’s private bank issued guidance for high-net-worth clients to reduce equity exposure from 60% to 55%, reallocating into bonds yielding around 4%. Advisors cited stretched equity valuations near all-time highs and rising interest rates as the drivers behind the portfolio adjustment recommendation.