Jamie Dimon is doubling down on JPMorgan DEI’s work as the conservative group ‘bring them on’ Wall Street.
-
Jamie Dimon reaffirmed JPMorgan’s DEI commitment after pressure from an activist shareholder.
-
A group wants JPMorgan to revisit how compensation ties into the company’s racial-equity goal.
-
Donald Trump signed an executive order on Monday ending DEI programs in the federal government.
Jamie Dimon is doubling down on JPMorgan’s diversity, equity and inclusion commitments under pressure from an activist shareholder.
In an interview with CNBC at the World Economic Forum in Davos, Switzerland. JPMorgan CEO He said the bank continues to push forward with DEI’s work and environmental, social and governance policies.
“Bring ’em on,” Dimon said of activist efforts. “We’re going to continue to reach out to the black community, the Hispanic community, the LGBT community, the veterans community.”
Dimon is known for working across both political lines. By 2020, JPMorgan will be one 30 trillion dollar program Aimed at working on racial equity in personal finance, the move comes as other financial institutions make big commitments to similar issues. JPMorgan’s program includes mortgage reform and working with historically black colleges and universities.
Dimon’s comments came after the conservative nonprofit National Law and Policy Center in Davos proposed this month that JPMorgan reconsider whether executive compensation is tied to the company’s racial-equity goals.
JPMorgan has launched an “accountability framework” to evaluate executives’ progress toward DEI goals by 2020, which will affect compensation. The firm does not publicly disclose how much executive pay, including for Dimon, is tied to DEI’s work.
JPMorgan and NLPC did not immediately respond to requests for comment.
NLPC has sent stock proposals to major companies in recent years focused on climate, China and other issues.
In a separate interview with CNBC on Wednesday, David Solomon said: CEO of Goldman Sachssaid he has seen news of shareholder proposals but hasn’t seen any of them yet.
“We are advising our customers to think about these things,” Solomon said. “They think about decarbonization, they think about climate change. They think about their businesses, how they get talent, the diversity of talent they’ve got around the world.”
Goldman Sachs did not immediately respond to a request for comment from Business Insider.
The opinions of shareholders – about any subject – do not always end in the choices of companies. Thoughts on ESGThose who have come to the polls, including those opposed to DEI, have seen little support over the past four years, according to a review by institutional shareholder services, a shareholder advisory firm.