JPMorgan picked an executive with 30 years of experience at the bank for a prominent new role, highlighting the importance of context and relationships in building a successful AI strategy.  

The head of JPMorgan’s new data and analytics unit, Teresa Heitsenrether, will be responsible for infusing artificial intelligence into every facet of the bank’s business.  

“Using AI technologies effectively and responsibly to develop new products, drive customer engagement, improve productivity, and enhance risk management will be a top priority,” CEO Jamie Dimon and president Dan Pinto said in a memo announcing Heitsenrether’s hire. “Teresa is an outstanding leader with an exceptional track record, helping to build and transform some of our most successful businesses.”  

It’s telling that JPMorgan selected an internal leader with deep context and relationships across the firm to lead the new unit, instead of a hotshot external technologist.  

Meanwhile, as Distilled previously reported, none of the biggest banks in the United States have the same organizational arrangements for their AI efforts.  

For example, Citi funnels work through its AI center of excellence, while Bank of America organizes its AI initiatives along business lines, with chief experience officers from different divisions, including consumer banking (Teron Douglas) and wealth management (Christian Kitchell). CXOs report into BofA’s chief digital and chief marketing officer, David Tyrie.