Manuela Veloso, a leading figure in artificial intelligence research, has departed from JPMorgan Chase after nearly eight years leading the bank’s AI research division. Veloso announced her departure in a LinkedIn post on February 19, 2026, signaling a shift in leadership as the financial institution continues to invest heavily in the technology.
Veloso joined JPMorgan in July 2018, tasked with building and directing a new AI research group. Her departure comes as JPMorgan is undergoing a significant transformation, aiming to become what executives describe as a fully AI-powered megabank, according to a September 30, 2025 report by CNBC. Derek Waldron, the bank’s chief data analytics officer, has stated the firm is being “fundamentally rewired” for the AI era.
JPMorgan’s AI research focuses on several key areas, including AI agents and hybrid reasoning to automate complex tasks, AI planning and knowledge management for financial strategy optimization, and the development of foundation models specifically tailored for the financial domain. The bank is similarly exploring synthetic data generation, multimodal document processing, and enhancing trust and transparency in AI-driven decision-making, as detailed on the JPMorgan Chase website.
The timing of Veloso’s exit coincides with increased investment in AI across the financial sector. Forbes reported in December 2025 that JPMorgan’s 60% AI adoption rate and a target of $2 billion in value demonstrate the potential of enterprise AI, setting a benchmark for the industry. JPMorgan’s AI initiatives are not limited to internal improvements; the bank aims to develop solutions that benefit both its businesses and its clients, according to a statement on the J.P. Morgan website.
JPMorgan’s broader technology strategy encompasses advancements in areas like cryptography, as highlighted in its AI Research program overview. The firm’s ambitions extend across its various divisions, including Commercial Banking, Global Corporate Banking, Investment Banking, Institutional Investing, and Payments. The bank has not yet announced a successor to Veloso, and a spokesperson did not respond to requests for comment.
