(18 March 2024 – United States) Morgan Stanley has promoted a senior technology executive in its wealth management division to become the group’s inaugural Head of Artificial Intelligence (AI).
Jeff McMillan has been promoted to the role to direct the bank’s highly anticipated implementation of AI across the bank. Morgan Stanley was the first major Wall Street bank to launch a solution based on OpenAI’s GPT-4 and is also considering additional OpenAI technology which has the potential to enhance the insights from advisors notes and streamline client communications.
“I am pleased to announce my new role as Head of Firmwide AI at Morgan Stanley. I am proud of what we have achieved so far and am excited for what’s ahead. Thanks and admiration to Morgan Stanley leadership for being out in front on this to deliver these differentiated capabilities in a thoughtful and responsible manner” Mr McMillan commented on his appointment to the new role.
JPMorgan announced Teresa Heitsenrether as its Chief Data and Analytics Officer in charge of AI adoption while Goldman Sachs CIO Marco Argenti is widely viewed as the lead AI advocate for the US bank.