JP Morgan Ribrands Variety Program

Wall Street Titan JP Morgan Chase is making changes for this Diversity, Equity and Inclusion (DEI) According to a memorandum viewed by Fox Business, the bank is building to maintain market and current laws as part of ongoing reforms.

Jen Peepszak, chief operational officer of JP Morgan Chase, told the employees in Friday’s memo that the bank is changing the word “equity” with “opportunity”. The program will now be referred to as diversity, opportunity and inclusion (DOI), and will continue to report to Thalama Ferguson.

“, ‘E’ always meant equal opportunity for us, not equal results, and we believe that it more accurately reflects our ongoing approach to reach the most customers and customers to enhance our business, creates an inclusive workplace for our employees and enhances opportunities,” Pipszak said in Memo.

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The bank has already strengthened diversity programs, which have been managed centrally by the Doi organization, meaning that some programs have been integrated into various lines of business, including human resources or corporate responsibility, according to pipeszak.

JP Morgan also said that it was “increasing connectivity to ensure frequent operating principles and maximum impact between councils, executive forums, business resource groups and DOI organization.” This means that “activities, councils or chapters can be consolidated” to streamline its process, the pipeszak said.

The company also plans to reduce the amount of training on such subjects.

Piepszak said the company has always been committed Renting, compensation and promotion These qualifications are based.

“We work to reduce obstacles, not standards, because we know that when you reduce the standards, no one wins,” said Peepszak. “We do not have illegal quota or encouragement, and we will never remove anyone because of their political or religious beliefs, or who they are.”

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The firm did not define changes as “corrective action”, but as part of its organic development. Noted that it has been changing its diversity programs since 2023.

The memorandum came only a few weeks after the bank agreed to update its code of conduct to protect the bank from religious and political discrimination. The diversity of his code of conduct and the inclusion section clearly prevents discrimination against “religious ideas”, and it includes the language that restricted discrimination Customer for his “political opinion”.

Increasing number of companies from banks to retail vendors – has made similar announcements as pressure on major corporations to return to those initiatives to increase racial and gender equality in the workplace. Initiative has also faced the President’s criticism Donald Trump, Those who signed an executive order in January, directing government agencies to check DEI programs with assets of at least $ 500 million on publicly traded corporations, large non -profit corporations or associations and associations and foundations.

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Last month, Citigroup said that it would no longer need a diverse slate of candidates for the job interview and said it is turning “diversity, equity and inclusion and talent management” team’s name into “talent management and engagement”.

Similarly, Goldman Sachs canceled a four -year policy of taking at least two diverse board members, especially with two diverse board members. It also dropped an entire section dedicated to “diversity and inclusion” from its annual filing.

Fox Business’ David Spector and Reuters contributed to this report.