JP Morgan Advisor ranks rose 9% and overall employee numbers rose 8% over the past year, while CEOs Jamie Dimon According to reports, the company said it was on the verge of hiring.
According to JP Morgan’s latest earnings report, the company had 8,314 financial advisors at the end of March, up from 8,166 at the end of 2022 and 7,614 at the end of March last year.
Meanwhile, the company’s overall headcount reached 296,877 by the end of the first quarter, up from 273,948 a year earlier, Bloomberg wrote, citing company information.
CFO Jeremy Burnhamsaid in an earnings call with reporters on Friday that the increase is business as usual — but the increase in staff, coupled with wage inflation and higher compensation, will lead to a 5% surge in noninterest expenses. The company said it helped promote to the news service.
Dimon said the company’s headcount is expected to remain unchanged for the rest of the year, Bloomberg wrote.
In January, JP Morgan took a different approach from its belt-tightening peers. Morgan Stanley We are in the process of cutting about 1,600 positions, goldman sachs Even though it was poised to lay off as many as 3,200 employees, Dimon said JP Morgan was still in “hire mode.”
Meanwhile, in a phone call on Friday, Dimon also revealed that the company will not tolerate resistance to office work positions.
According to Bloomberg, Dimon said, “I know some people don’t follow me three days a week, and I want them to join me three days a week.” I completely understand, they can’t do it anywhere else.”
Dimon also affirmed that much more is expected of the company’s management, which recently ordered its managing director to return to work five days a week.
According to the news service, the CEO said:
Dimon has long opposed remote work, accusing it of harming the company’s apprenticeship program, making it harder for employees to get to know each other, and undermining “self-directed learning and creativity.” .
The CEO took a more moderate stance toward shareholders in his annual letter last April Only about half of the company’s staff are required to work full-time “on the spot”, about 40% can work in a hybrid arrangement, and 10% will be permanently remote.
But last summer, Dimon accused remote work of reducing diversity.