JPMorgan Chase | Financial adviser • Finance news
A JPMorgan Chase & Co. monetary adviser accused the financial institution of harboring a tradition of “unchecked greed, avarice and…
A JPMorgan Chase & Co. monetary adviser accused the financial institution of harboring a tradition of “unchecked greed, avarice and misogyny” in a federal office criticism, saying it undermined her by excluding her from consumer conferences and taking away her sources.
Gwen Campbell, who introduced $1.1 billion in property when she moved to JPMorgan in 2020, was subjected to “name-calling” and “sexist decrees,” in line with the criticism filed with the U.S. Equal Employment Alternative Fee on Friday.
Former New York Yankees star Alex Rodriguez had been on Campbell’s roster of shoppers, in line with folks aware of the matter who requested to not be recognized as a result of the data is confidential.
“Amongst different issues, Campbell was yelled at and belittled, referred to as ‘a no one’ and ‘confused’ and instructed to ‘quiet down’ and ‘be good,”’ her attorneys mentioned within the criticism.
Campbell sued the financial institution in December in federal court docket alleging that non-public bankers in a special unit have been “ruthlessly” poaching her shoppers.
She dropped the lawsuit the identical month to as an alternative pursue claims towards the financial institution in arbitration after a choose denied her request to quickly bar fellow bankers at JPMorgan from soliciting enterprise with shoppers she introduced along with her when she was recruited from Financial institution of America Corp.
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| Type | Public |
|---|---|
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Traded as
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| ISIN | US46625H1005 |
| Industry | Financial services |
| Predecessors | The Bank of the Manhattan Company (founded on September 1, 1799) Chemical Bank J.P. Morgan & Co. Chase National Bank |
| Founded | December 1, 2000 |
| Founders | Aaron Burr (The Bank of the Manhattan Company) Balthazar P. Melick (Chemical Bank) John Pierpont Morgan (J.P. Morgan & Co.) John Thompson (Chase National Bank) |
| Headquarters |
New York City, New York
, U.S.
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Area served
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Worldwide |
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Key people
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Jamie Dimon (Chairman & CEO) Daniel E. Pinto (President & COO) |
| Products | Asset management, banking, commodities, credit cards, equities trading, insurance, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, etc… |
| Revenue |  US$121.65 billion[1] (2021) |
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Operating income
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 US$59.562 billion[1] (2021) |
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Net income
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 US$48.3 billion[2] (2021) |
| AUM | US$3.1 trillion[2] (2021) |
| Total assets | US$3.831 trillion[3] (2021) |
| Total equity | US$294.1 billion[2] (2021) |
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Number of employees
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271,025[2] (2021) |
| Divisions | Asset and Wealth Management, Consumer and Community Banking, Commercial Banking, Corporate and Investment Banking |
| Subsidiaries | Chase Bank J.P. Morgan & Co. One Equity Partners |
| Capital ratio | Tier 1 15.0% (S30, 2021) |
| Website | jpmorganchase.com |
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“A federal court docket has already spoken on many of those issues,” mentioned JPMorgan spokeswoman Veronica Navarro. “As we’ve beforehand communicated, we are going to examine any workers’ considerations which can be escalated.”
Campbell claims her job had an disagreeable begin. She confronted discrimination from her second day on the job when JPMorgan’s head of adviser and consumer transitions and an all-male transition group assigned to assist deliver her shoppers over from Financial institution of America “humiliated” her on a Zoom name by informing her that she’d should do administrative duties and transition paperwork, in line with the criticism.
- When Campbell protested, she was instructed to “‘quiet down,’ which is plainly a gender-based pejorative,” her attorneys wrote.
- Within the criticism, Campbell claimed that after she instructed colleagues about her expertise on the video name, she confronted retaliation with a doubtlessly weekslong transition course of being dragged out to greater than six months, resulting in a lack of $100 million of property and costing her $1 million in compensation.
- Even earlier than Campbell joined the agency in October 2020, her supervisor instructed colleagues that he would have most well-liked to recruit a male monetary advisor however was instructed that he “needed to rent a girl,” she alleged within the criticism.
- That “demonstrates that J.P. Morgan considered Campbell solely when it comes to her gender, and never for her worth as an expert monetary advisor,” she mentioned.