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How AI is coming for Wall Street and slashing jobs for analysts

Is the financial job market on the brink of a dystopia?

New-york , United-states , Jamie-dimon , Charles-stross , Jay-horine , Christoph-rabenseifner , Morgan-stanley , Deutsche-bank , Goldman-sachs , New-york-times , Wall-street , Business-insider

Exclusive-JPMorgan dealmakers Lipsky and Lee are leaving the bank, sources say

NEW YORK -Two senior JPMorgan Chase dealmakers, Andy Lipsky and Haidee Lee, are leaving the bank, two sources familiar with the matter said on Thursday.
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-April 18, 2024 at 04:37 pm EDT
- MarketScreener

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Exclusive-JPMorgan dealmakers Lipsky and Lee are leaving the bank, sources say

Two senior JPMorgan Chase dealmakers, Andy Lipsky and Haidee Lee, are leaving the bank, two sources familiar with the matter said on Thursday. Lipsky, JPMorgan's vice chair of investment banking, helped advise industrial companies including General Electric on big deals. Lipsky is headed to Morgan Stanley, two other sources said, declining to be identified discussing personnel matters.

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Exclusive-JPMorgan dealmakers Lipsky and Lee are leaving the bank, sources say

By Nupur Anand and Svea Herbst-Bayliss NEW YORK (Reuters) -Two senior JPMorgan Chase dealmakers, Andy Lipsky and Haidee Lee, are leaving the bank, two sources familiar with the matter said on Thursday. Lipsky, JPMorgan's vice chair of investment bankin...

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AI is coming for Wall Street: Banks are reportedly weighing cutting analyst hiring by two-thirds

"The easy idea is you just replace juniors with an AI tool," a Deutsche Bank chief strategy officer told the New York Times.

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Goldman Sachs & JPMorgan's 22-year-olds on $100k salaries may go extinct.

Two thirds of junior banking jobs could be replaced by AI.

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Wall street: The worst part of a Wall Street career may be coming to an end

Generative artificial intelligence is reshaping the landscape of investment banking, particularly in roles traditionally held by junior analysts. AI technologies like those being tested at Goldman Sachs and other major banks are capable of performing tasks that previously took hours or even whole weekends for human analysts. This includes assembling PowerPoint presentations, crunching numbers in Excel spreadsheets, and refining language in financial documents. The widespread adoption of AI in banking could lead to significant changes in hiring practices, with the potential for fewer junior analyst positions and altered job responsibilities for those who remain.

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AI Job Cuts: Banks Reportedly Eye Cutting Analyst Classes by Two-Thirds

"The easy idea is you just replace juniors with an AI tool," a Deutsche Bank chief strategy officer told the New York Times.

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AI is coming for Wall Street: Banks are reportedly weighing cutting analyst hiring by two-thirds

"The easy idea is you just replace juniors with an AI tool," a Deutsche Bank chief strategy officer told the New York Times.

Blackrock , New-york , United-states , A-goldman-sachs , Jamie-dimon , Larry-fink , Christoph-rabenseifner , Jay-horine , Morgan-stanley , New-york-times , Goldman-sachs , Accenture

The worst part of a Wall Street career may be coming to an end

Generative AI has landed on Wall Street. And investment banks are rapidly turning into Exhibit A on how the new technology could not only supplement but supplant entire ranks of workers

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