Workplace management

Gone are the days when Wall Street executives dressed in conspicuously expensive clothing. Now the industry has adopted a more relaxed and casual dress code.

Many banks could benefit greatly from overhauling their internal culture when it comes to meetings. Both performance and morale stand to benefit.

The megabank rolled out new and expanded employee diversity targets that it aims to meet by 2025. The goals include placing more Hispanics in leadership roles and boosting the number of LGBTQ+ members the company hires from colleges and universities.

A JPMorgan Chase financial advisor filed a federal workplace complaint accusing the bank of harboring a culture of “unchecked greed, avarice and misogyny” and undermining her by excluding her from client meetings and taking away her resources.

In conversation with Patti Cook, CEO of Finance of America Companies

Bessant & Erdoes: In conversation

What else do banks need to do to achieve gender parity more quickly? What are the tech innovations that will be most impactful for the banking industry? What will the surviving banks look like a decade from now?

Financial services companies tend to push out older employees. That’s a mistake, both because of the loss of institutional knowledge and because it’s older bankers who can build the best rapport with boomer customers.

Citigroup will require all U.S. employees be vaccinated against COVID-19 as a condition of their employment, citing new orders from President Biden.