One of JPMorgan Chase & Co.’s most senior executives is leaving the bank after a four-decade career, in which she most recently led its artificial intelligence drive from a coveted spot on its top operating committee.
Chief Data and Analytics Officer Teresa Heitsenrether, who previously led the bank’s prime brokerage and securities services units, is retiring from the company at the end of this year, Chief Executive Officer Jamie Dimon and Chief Operating Officer Jenn Piepszak wrote in a memo to staff that was seen by Bloomberg News.
Heitsenrether, 61, joined JPMorgan in 1987 after a summer internship and has spent her entire career there. For the past three years, she has run the company’s AI strategy, during which time the bank joined Anthropic PBC’s exclusive group of users of its Mythos model, known as Project Glasswing, as a founding member. She’s also driven the development of JPMorgan’s LLM suite, used by most of its 320,000 employees globally.
Her departure comes during a key period of change for the bank, where Dimon promoted two of his most likely successors — Doug Petno and Troy Rohrbaugh — to co-president last week. It’s also a pivotal moment for the sector in rolling out AI, as tech firms jostle for a share of Wall Street’s multibillion-dollar wallets and executives push for efficiency.
“Teresa has played a pivotal role in building and transforming some of our most important institutional businesses and, most recently, in shaping the firmwide data and artificial intelligence strategy that is central to our future,” Dimon and Piepszak wrote about Heitsenrether, who sits with them on JPMorgan’s 12-person operating committee.
Scot Baldry, the bank’s chief technology officer, will add Heitsenrether’s title and mandate, though he won’t join the operating committee. He’ll report to Lori Beer, the firm’s chief information officer, according to the memo. Beer holds a spot on the bank’s operating committee.
While running the securities services unit, Heitsenrether oversaw about $30 trillion in assets under the bank’s custody and increased her unit’s revenue by more than 22%. After Russia’s invasion of Ukraine, she ran the bank’s “war room” to coordinate its approach to the crisis.
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