Investment Banking

JPMorgan says it will fire analysts taking back-dated jobs elsewhere

The Wall Street bank told incoming investment banking analysts that accepting offers at other firms before they join will mean ’employment with the firm will end’

Jamie Dimon, JPMorgan’s chief executive, previously said analysts accepting a job in private equity before starting at the bank was ‘unethical’
Jamie Dimon, JPMorgan’s chief executive, previously said analysts accepting a job in private equity before starting at the bank was ‘unethical’ Photo: Noam Galai/Getty Images

JPMorgan will fire investment banking analysts who accept back-dated job offers from other firms as banks look to stem an exodus of junior talent to the buyside.

The Wall Street bank told incoming US analysts that if they accepted a job with another company — or within 18 months of joining JPMorgan — that their “employment with the firm will end”, according to a letter seen by Financial News.

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