With nearly $1B tech budget, Raymond James names AI strategy leader

David Solganik, who has three decades of experience in data and analytics for some of Wall Street’s biggest banks, has been appointed head of AI strategy for St. Pete-based banking and financial services giant Raymond James.

The role is a new one for Raymond James, which, officials say in a statement, has a $975 million annual technology budget. The position, the nearly $13 billion company says, also “underscores the firm’s commitment to strategically integrating artificial intelligence (AI) across its businesses — augmenting the human touch, rather than replacing it.” 

Solganik will report to Stuart Feld, who was promoted to chief AI officer earlier this year. Solganik previously worked for Morgan Stanley, JPMorgan Chase and MetLife in roles leading AI, data and analytics initiatives. He joins Raymond James, according to the release, after three years as head of U.S. wealth management AI and data strategic initiatives at RBC.