JPMorgan poaches Nomura AI chief Tahir Zafar

JPMorgan hired Nomura's international AI strategy head Tahir Zafar, who will report to another Nomura alumnus. CEO Jamie Dimon said the bank will hire more AI specialists and fewer traditional bankers. JPMorgan's 2026 technology budget is $19.8 billion, with $1.2 billion for AI. 150,000 employees use its internal LLM weekly, saving four hours daily.