JPMorgan is taking the lead on getting Wall Street back in the office

  • JPMorgan, headed up by CEO Jamie Dimon, is the biggest US bank by assets. 
  • The bank is reopening its offices next month and will require all staff to come in by July.
  • JPMorgan has also made new digital banking hires, including poaching an exec from Goldman. 
  • Visit Business Insider’s homepage for more stories.

JPMorgan is the biggest bank in the US and a bellwether for the global financial system. So when the firm’s senior-most leaders talk, Wall Street pays attention.

The bank is opening its U.S. offices on May 17 and will require all employees to come in by July, according to an internal memo sent this week. Staff members will return to the office on a rotational schedule to comply with a 50% occupancy cap.

“We firmly believe that working together in person is important for our culture, clients, businesses and teams, and we know that you’ll do your part to make it a positive experience that reflects our company at its best,” the memo said. JPMorgan is also planning to bring some interns to the office this summer, and CEO Jamie Dimon has said he expects staff to be maskless in the office later this year.

JPMorgan has also recently nabbed three new hires for its digital and product leadership team for consumer and community banking (CBB) from some of its biggest competitors, and it also hired a longtime Lyft and Google exec to head up tech for its corporate and investment bank.

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Recent hires and exits at JPMorgan

Sonali Headshot SDivilek

One of JPMorgan’s recent hires is Sonali Divilek, who was a key executive at Goldman Sachs’ Marcus in charge of products.

Goldman Sachs

JPMorgan on April 13 announced three new hires to support its consumer- and community-banking team.

Sonali Divilek, who was the head of product at Goldman Sachs’ Marcus, is one of the hires. The departure of Divilek, whom Chase said would be joining the bank this summer as the head of digital channels and products, represents a blow for Goldman’s consumer business as it looks to compete amid a raft of leadership and engineering exits.

Thasunda Brown Duckett, a rising star at the firm and the first Black woman to join its influential operating committee, left JPMorgan in February to lead financial services and retirement firm TIAA.  Jennifer Roberts, who headed the firm’s business banking group, was named the bank’s new consumer head in March. 

More on people moves here:

Wealth management plans

MASPETH, NY - NOVEMBER 17: Shivani Siroya, Kristin Lemkau and Stephanie Cohen speak onstage at Girlboss Rally NYC 2018 at Knockdown Center on November 17, 2018 in Maspeth, New York. (Photo by JP Yim/Getty Images for Girlboss Rally NYC 2018)

Kristin Lemkau, center, the chief executive of JPMorgan’s US wealth management business.

JP Yim/Getty Images for Girlboss Rally NYC 2018

JPMorgan is planning to significantly expand its financial advisor force, bringing the firm closer in size and scope to its rival firms in wealth management. Over the next five to six years, the bank is considering hiring as many as 4,000 advisors to roughly double its current base, US Wealth Management Chief Executive Officer Kristin Lemkau told Business Insider this fall. 

Lemkau, who has been with the bank for over two decades and was previously its chief marketing officer, was named head of JPMorgan’s new wealth division in December 2019. Its various wealth businesses, including its self-directed wealth product, were reorganized under one umbrella.

Read more on JPMorgan’s wealth management plans:

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