Banking giant JPMorgan is reportedly issuing a warning to new recruits, saying they’ll be fired if they violate new rules set for junior banking analysts.
In a recent leak posted on Instagram, Wall Street newsletter Exec Sum reports that the financial services titan is telling new recruits they’ll be let go if they accept another job during the first 18 months of working for the company.
The memo from the bank appears to ask new recruits not to accept a position with another company before or within one and a half years of joining JPM in a potential crackdown on “talent poaching.”
“As a reminder, job searching outside JPMorganChase must be done on your own time and should not interfere with your responsibilities.
Avoiding potential conflicts of interest is crucial to maintaining the trust and confidence our clients place in us, so we have updated our policy regarding Investment Banking Analysts accepting future-dated job offers. Therefore, if you accept a position with another company before joining us or within your first 18 months, you will be provided notice and your employment with the firm will end.”
According to a recent report from Fortune, JPMorgan’s chief executive, Jamie Dimon, said he views the activity as “unethical” as it can lead to conflicts of interest.
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