It is not uncommon for the big -name business leaders to give up the big corporations. Get a recent example of Brian Niccol, the former -ceo of chipotle who was cheated by Starbucks last summer.
But these behaviors have begun with the earliest career professionals-and Jamie Dimon dislikes. Dimon, the general director of JPMORGAN Chase, spoke about his contempt for private capital sleep practices during a conversation last fall at the Georgetown University Center for financial markets and policies.
“I know that many of you work in Jpmorgan, you get a job in a private capital store before you start with us,” Dimon told a crowd of university business school students. “I will say something a little different, okay because I haven’t talked about character. The most important thing about people’s character, I think is unethical. I don’t like it. “
Dimon is referring to the lucrative practice in which private capital firms begin to aggressively recruit newly mined new bankers at the beginning of their careers – and even ever before. But the peculiarity of private capital recruitment practices are the jobs they are deceiving the latest college ranks often do not start until a date away in the future, usually about two years.
College students looking at Dimon’s interview knew exactly what he was talking about, with the crowd responding to laughter. But Dimon did not have fun from this response, promoting the severity of the situation.
And JPMORGAN has been in the case for a while.
“We understand that the practice of interviewing and accepting a role in another firm has been accelerated and is happening earlier in your career with us,” JPMORGAN wrote to new bankers in a communication that was separated from the Instagram Lakuidity Account, according to Business Insider. The post is no longer visible.
Not only does Dimon dislike twisting private capital, but he is running an attempt to give up all together.
“I can eliminate it, regardless of what private capital boys or people in the company say, I will not pay for it,” Dimon said. “They are not mercenaries. And I think it’s wrong to put you in position. “
Dimon does not like because many of these young bankers who are being destroyed have already passed some job training and have access to confidential information immediately before taking the step into private capital.
“This puts us in a bad position and puts us in a conflicted position,” Dimon said. “You are already working for somewhere else, and you are dealing with very confidential information from JPMORGAN, and I just don’t like it.”