JPMorgan Chase CEO and chairman Jamie Dimon has sparked controversy with comments about the bank’s diversity, equity, and inclusion (DEI) programs. In a recent town hall discussion in Ohio, Dimon reportedly expressed frustration with the bank’s spending on some of these initiatives.
Dimon stated that he was never a firm believer in bias training and said the bank had probably spent excessively on some DEI-related programs. He also mentioned that this excessive spending had “pissed me off” and hinted at canceling certain programs.
The comments contradict the bank’s public statements on its commitment to improving society and enhancing diversity. JPMorgan has been a leader in promoting DEI initiatives, including launching a comprehensive training program for all employees called “You Belong Here: Building a More Inclusive JPMC” in 2021.
However, despite this, Dimon’s recent comments suggest that the bank may be reevaluating its approach to DEI. The firm has made significant commitments to racial equity and diversity, including a $30 billion investment over five years to advance these goals.
JPMorgan has also established various programs and resources to support diverse employees, including business resource groups and Global DEI Centers of Excellence. The bank’s annual series of meetings with board members, senior executives, and key shareholders frequently discuss the topic of racial equity and diversity.
It is unclear which specific programs Dimon plans to cancel or scrap, as JPMorgan did not comment on his remarks. Nevertheless, the comments highlight a potential shift in the bank’s approach to DEI and may have implications for its future commitments to these initiatives.
Source: https://fortune.com/2025/02/14/jpmorgan-ceo-jamie-dimon-dei-bias-training-spending-racial-equity