JPMorgan Chase & Co. plans to increase the hiring of more junior staff by 10% in its investment banking division, according to Bloomberg. It also intends to change its corporate culture and reduce pressure on younger staff with ‘protected weekends’.
Jeff Unwin, the firm’s global head of investment banking, announced the changes on a company conference call, but the policies are not yet made public.
‘Marathon not sprint’ careers
There are plans for an increase in staff across many investment banking firms in the new year, the news agency reports, and similar policy changes with regards to working environments.
Goldman Sachs announced changes to its corporate culture back in October, including a Junior Banker Task Force to improve work place conditions and career development for young analysts and associates.
Co-head of investment banking David Soloman said: ‘The goal is for our analysts to want to be here for a career. We want them to be challenged, but also to operate at a pace where they’re going to stay here and learn important skills that are going to stick. This is a marathon, not a sprint.’
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