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Brian Chappatta

Even JPMorgan Can’t Escape All the Job Quitters

It’s not just lower-wage workers leaving their positions for better pay. Wall Street traders are on the move, too, in a sign the labor market is tightening.

Not impervious to the job-quitting trend.

Not impervious to the job-quitting trend.

Photographer: Michel Euler/POOL/AFP via Getty Images

It’s not quite Wall Street’s version of the “Great Resignation” — but it’s not too far off, either.

JPMorgan Chase & Co.’s equity derivatives desk has faced a wave of defections this year, part of a growing trend across the financial industry, Bloomberg News’s Hannah Levitt reports. Unlike many Americans leaving their jobs, JPMorgan’s senior executives had positions lined up at rival powerhouses like Bank of America Corp., Citigroup Inc. and Millennium Management. But, like workers in other industries, bankers are increasingly basing their career decisions on more than just money. After more than a year of the Covid-19 pandemic, flexible lifestyles are in demand.