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JPMorgan Plans to Hire 300 Black, Latinx Wealth Advisers by 2025

  • Wealth-management unit to partner with HBCUs over five years
  • U.S. banks face pressure to rectify race-related economic gaps
   
Photographer: Mark Kauzlarich/Bloomberg

JPMorgan Chase & Co. said it plans to hire 300 additional Black and Latinx wealth advisers by 2025 to serve more clients from those communities and allow employees from diverse backgrounds to advance in their careers.

“We want to drive a step change in the representation of financial advisers” at JPMorgan, Kristin Lemkau, chief executive officer of the bank’s wealth-management unit, said in a statement Friday. “We have made progress in recent years, and hiring 300 Black and Latinx advisers will accelerate that progress materially.”