JPMorgan's New Role Targets Overwork Problems in the United States Workforce
Reuters Highlights JPMorgan's Action Against Workforce Overwork
(Reuters) - JPMorgan Chase has created a new role that will oversee its junior bankers and analysts amid a focus to tackle the persistent problem of overworking on Wall Street. Ryland McClendon, a near 14-year JPMorgan veteran, has been named as the global investment banking associate and analyst leader, according to an internal memo sent earlier this month and seen by Reuters on Wednesday.
The Context of the New Role
The appointment comes months after a junior banker at Bank of America died due to an acute coronary artery thrombus, a type of blood clot. Reuters reported that the 35-year-old had wanted to leave his job because he was working more than 100 hours a week.
Industry Response to Workload Concerns
Wall Street has grappled with workload concerns among junior staff for years. Some firms have adopted measures such as increasing pay, holding workshops, and forbidding work on Saturdays. McClendon in the new role will focus on creating a healthier work environment for young professionals.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.