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JPMorgan Chase has introduced a new global position to oversee junior bankers in response to the tragic death of a Bank of America associate, prompting a reevaluation of how young employees are treated on Wall Street. Ryland McClendon, a 14-year veteran at JPMorgan, has been appointed as the global investment banking associate and analyst leader to support the well-being and success of junior bankers. The firm’s move comes after recent concerns about the workload and working conditions of junior bankers, following the death of a Bank of America employee who reportedly worked long hours on a bank merger. JPMorgan’s CEO, Jamie Dimon, emphasized the need for a healthier work-life balance for junior bankers, warning senior managers that violations of the new policies will impact their bonuses. The company has also set a limit of 80 hours of work per week for junior bankers, with exceptions allowed for live deals.

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