Tucker Balch has left J.P. Morgan, with Wednesday marking his final day at the largest U.S. bank, according to online portal «eFinancialCareers».

Balch was J.P. Morgan’s AI expert and was regarded internally as the «AI guru». He co-founded Lucena Research, a data-driven IT company that employs machine learning, big data, and quantitative analysis to provide insights for investment professionals.

Not Your Typical Banker

Balch's gray-blond hair and unconventional appearance set him apart from the typical banker. His arrival at J.P. Morgan in 2018 caused quite a stir.

A leading authority in AI, robotics, and finance, Balch joined the bank as a Managing Director in its newly established AI research group. He has now left the company and returned to academia.

During his tenure at J.P. Morgan, Balch built a team of 24 researchers and seven developers and worked on cryptographic trading systems.

Returning to Academia

In his farewell message, Balch noted that «J.P. Morgan’s AI research group is strong under the leadership of Manuela Veloso. It remains the number one in banking for serious work at the intersection of AI and finance.» This has also enabled him to transition to a role as a finance professor at Goizueta Business School at Emory University.

«I look forward to teaching the next generation of Wall Street talent,» he added, urging not to overinterpret his departure. He emphasized that it is entirely normal for talent to move between leading research labs and academia and back again.

Sign of a New Realism

This is not inaccurate. However, Balch’s departure was announced in the same week that Samik Chandarana, former head of digital banking at J.P. Morgan, also revealed she is taking an extended break.

Perhaps this shift simply reflects that the excitement around AI in the financial sector is tempering, and a new realism is taking hold in the industry.