Wall Street’s diversity dilemma deepens as JPMorgan’s Dimon sounds off on ‘stupid’ DEI expenses

Wall Street's diversity dilemma deepens as JPMorgan's Dimon sounds off on 'stupid' DEI expenses

Wall Street's defense of her DEI initiatives suddenly became more complicated.

Jimmy Damon, CEO of JPMorgan Chase, a long -standing diversity defender and the use of banking resources to help minority communities, told employees last week during a municipal hall that “he was never a strong believer in training” and had questions about the money spent On some DEI programs.

“I saw how we spent money on some of this stupid disgust, and it really angered me,” said Damon, according to the record of the city hall, which Bloomberg reported. “I am just going. I don't like the lost money in bureaucracy.”

GJ Morgan CEO Jimmy Damon. Michelle Oler/Swimming Play via Reuters · Reuters / Reuters

Damon was not specific about what he would not. He also said that the bank’s approach to Black, HISPANIC and LGBTQ societies will not change, and that any plans for some Dei initiatives were not linked to the election of Donald Trump as president.

What was noticeable about Damon's new comments was his explicit about his willingness to fight external efforts to change the DEI's DEI policies.

Bring them, Damon said about the efforts of the activist targeting Dei during Interview with CNBC last month.

Some of the largest companies in Wall Street, including JPMorgan, are increasing targets for conservative activists looking for changes to DEI policies across American companies.

Over the past year, this pressure contributed to DEI's declines in a number of other prominent companies, including Meta (Meta), Walmart (WMT), McDonald's (MCD), Low's (LOW), Ford (F), Sturch (TSCO) , John Deree (de), and target (TGT).

Many of these declines were recently affected by the US Supreme Court decision regarding positive procedures in colleges and universities, which is the ruling on conservative groups to increase their efforts to eliminate various employment practices.

The goals of the diversity of companies are also exposed to intense scrutiny in Washington. The capital, Trump, signed an executive order on his first day in his post that ends the federal DEI programs and another called for “combating the DEI's private procedures.”

“My administrations have taken measures to cancel all discriminatory diversity, shares and integration,” Trump told business leaders and politicians last month during a virtual speech to the World Economic Forum in Davos, Switzerland.

the National Center for Public Policy Researchthe National Legal and Political Centerand Heritage Foundation I have all presented Suggestions of shareholders Searching for deeper changes or examination of practices in many large banks.

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