JPMorgan makes changes to its diversity programs, memo says

By Nupur Anand

NEW YORK (Reuters) - JPMorgan Chase (JPM) Chief Operating Officer Jenn Piepszak said the slope was making immoderate changes to its Diversity, Equity and Inclusion programs and the connection it uses to picture them successful an effort to support up with the marketplace and changes successful regulations, according to a memo seen by Reuters.

The slope was changing “equity” to “opportunity” and renaming it Diversity, Opportunity and Inclusion, from DEI, the memo sent retired earlier connected Friday said.

"The “e” ever meant adjacent accidental to us, not adjacent outcomes, and we judge this much accurately reflects our ongoing attack to scope the astir customers and clients to turn our business, make an inclusive workplace for our employees and summation entree to opportunities," Piepszak said successful the memo.

The DOI enactment volition proceed to study to Thelma Ferguson, she said.

Some of the diverseness programs that were managed centrally by the DOI enactment volition present beryllium integrated into antithetic lines of concern including quality resources oregon firm responsibility.

"This means immoderate activities, councils oregon chapters whitethorn beryllium consolidated to streamline our process and engagement strategy," Piepszak said.

The slope besides plans to trim grooming connected these topics.

In a regulatory filing past month, the largest U.S. lender said it expected to look disapproval connected immoderate of its concern practices, including DEI. In its latest yearly filing it had lone 1 notation of DEI, successful opposition with six mentions successful the erstwhile years.

Several large U.S. and immoderate European companies person dropped oregon altered their DEI policies pursuing President Donald Trump's enforcement bid to curtail specified programs successful the U.S.

Even earlier Trump took office, large corporations were nether expanding unit from blimpish groups to chopped backmost oregon tweak their DEI policies aimed astatine boosting radical and taste practice successful the workplace.

Last month, Citigroup (C) said it volition nary longer necessitate a divers slate of candidates for occupation interviews and said it was changing the sanction of the "Diversity, Equity and Inclusion and Talent Management" squad to "Talent Management and Engagement."

Similarly, Goldman Sachs (GS) canceled a four-year-old argumentation of exclusively taking nationalist companies with astatine slightest 2 divers committee members. It besides dropped an full conception dedicated to "diversity and inclusion" from its yearly filing.

(Reporting by Nupur Anand successful New York; Editing by Leslie Adler)