JPMorgan Chase CEO takes a ‘strong stance’ on work-from-home
The ‘Barron’s Roundtable’ panelists discuss the CEO of JPMorgan Chase Jamie Dimon slamming work-from-home policies and more closing topics.
A spokesperson for JPMorgan Chase is defending the bank's diversity equity and inclusion polices, saying their hiring practices are "merit-based" – while the Wall Street titan's CEO appears to be waving on the company's commitment to DEI.
"We strictly adhere to the law and prohibit discrimination of any kind. Our hiring is merit-based," a spokesperson told Fox News Digital.
The spokesperson’s comments come after the bank’s CEO Jamie Dimon has appeared to waver on his commitment to DEI amid the Trump administration’s onslaught against the policies. During a January CNBC interview in Davos, Dimon said "bring them on" in reference to anti-DEI activists targeting his bank. But during a recent company townhall, the CEO appeared to criticize many of the company’s DEI programs.
JPMorgan appears to be backing away from its DEI initiatives.
"I saw how we were spending money on some of this stupid s--t, and it really pissed me off. I’m just going to cancel them. I don’t like wasted money in bureaucracy," Dimon said, before telling employees he was never a "firm believer" in bias training.
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The financial institution has also scrubbed its latest SEC filing of almost any mention of DEI programs – save for one section in which the investment bank warned that it expects to be "criticized by activists, politicians and other members of the public" for its DEI policies.
JPMorgan's 2023 filing listed diversity, equity and inclusion in a section entitled "Firm culture" and pointed to its business resource groups which the filing defined as "groups of employees who support JPMorgan Chase’s diversity, equity and inclusion strategies by leveraging the unique perspectives of their members."
Morgan also disclosed their DEI "centers of excellence" which work to achieve the bank’s DEI objectives with career coaching and other services. The Centers of Excellence are mentioned in this year’s filing but are no longer listed as a DEI program.
Goldman Sachs has also backed off DEI programs. (REUTERS/Andrew Kelly / Reuters Photos)
"We regularly review and make appropriate adjustments to policies and programs, including around the Supreme Court decision in 2023," the spokesperson said.
As the Trump administration continues to crack down on DEI one Wall Street firm after another has turned on the controversial practices. Goldman Sachs announced they would no longer deny IPO services to companies with all-White boards, and Citigroup dropped their diversity hiring metrics.
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Trump referred to DEI programs as "illegal and immoral discrimination programs" in his executive order banning them from federal agencies. However, JPMorgan’s spokesperson insists that the bank is not discriminating, and is simply trying to expand "opportunity" to their customers.
Jamie Dimon said "bring them on" in reference to anti-DEI activists. (Photographer: Victor J. Blue/Bloomberg via Getty Images / Getty Images)
"The moniker means different things to different people. For us, it’s about doing what we’ve done for decades -- trying our best to ensure that every customer and employee has a fair opportunity and that we serve communities and grow our company," they said.
