JPMorgan appoints a record-breaking 25% female MDs
The bank has promoted 117 employees to MD as the financial sector gets grilled on its lack of diversity in its senior ranks
New York — JPMorgan Chase has promoted 117 employees to MD in its corporate and investment bank, a person briefed on the changes said. Women represented a little more than a quarter of the total, which was a record percentage, according to the person, who asked not to be identified because the breakdown hasn’t been publicly announced. About a third of the employees who earned the distinction work as investment or corporate bankers, while 20% of the new MDs are traders. Wall Street banks have been under fire for a lack of diversity in their upper ranks. While many have pledged to promote more women and minorities, change has been slow. JPMorgan announced a management shuffle last week that placed it ahead of just about every major US rival in putting a slate of women in position to potentially take over as CEO. Earlier this month, US law makers questioned Dimon and other bank CEOs, pressing them on whether a woman or member of a minority group might someday succeed them. ‘‘We expect ...
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