Recruiting

Many U.S. companies — including JPMorgan Chase, Morgan Stanley and Apple — have drawn attention for increasing pressure on employees to show up more at the office as COVID-19 concerns ebb. Some credit unions have taken similar steps, while others still insist a hybrid schedule is better for recruitment.

The House of Representatives adopted a defense authorization bill that includes a measure to make it easier for entry-level employees with criminal records to join a bank. Meanwhile, the Senate omitted a pot banking provision from its version of the must-pass spending legislation.

Bank of America is slowing hiring as fewer employees leave in an attempt to manage the company's headcount ahead of a possible U.S. recession, Chief Executive Brian Moynihan said.

JPMorgan Chase is planning to increase headcount in its Latin American private-banking unit by about 25% next year as the firm looks to attract more clients with $5 million to $25 million to invest at the bank.

Across Wall Street, this year's bleak expectations for banker bonuses are rapidly proving true, as a slump in dealmaking ends the industry's war for talent and firms regain the upper hand in setting pay.

Michael Corbat, the former chief executive of Citigroup, is joining Josh Harris's new investment firm 26North Partners as a senior advisor.

InBankshares has hired a former PacWest senior executive — its third leader to come from a regional bank — in a move aimed at bringing in the skills necessary to run a much larger institution.

Walmart health care executive Cheryl Pegus will join JPMorgan Chase's Morgan Health venture as a managing director, with aims to improve employer-sponsored health care.

The British lender is offering to provide support for laid-off workers starting new fintech businesses and hopes to attract staff for some of its thousands of technology job vacancies.

Despite the massive losses and growing criticism that the industry is rife with fraudsters and Ponzi schemes, a dozen industry employees interviewed by Bloomberg News said that while they're rattled by the crisis, they remain committed to crypto and its potential.