JPMorgan Chase has rebranded its diversity, equity and inclusion (DEI) program as “diversity, opportunity, and inclusion” (DOI). According to a memo from the bank’s Chief Operating Officer Jenn Piepszak, the term “equity” has been replaced with “opportunity.” This change is part of an ongoing effort to streamline its diversity programs and increase connectivity between councils and executive forums. The company plans to reduce the volume of trainings on DEI topics while maintaining a merit-based approach to hiring, compensation, and promotion.
Piepszak emphasized that JPMorgan has always been committed to reducing barriers rather than setting standards, ensuring equal opportunities for all employees. The bank has made changes to its diversity programs since 2023, including updating its code of conduct to protect against religious and political discrimination.
This rebranding follows similar moves by other major corporations, such as Citigroup and Goldman Sachs, which have scaled back their DEI initiatives in response to pressure from critics like President Donald Trump. The changes aim to strike a balance between promoting diversity and avoiding what some see as overly restrictive policies that may harm businesses.
Source: https://www.foxbusiness.com/markets/jpmorgan-rebrands-diversity-program