Jamie Spencer
From “Equity” to “Opportunity”
JPMorgan Chase (JPM.N) is making significant changes to its Diversity, Equity, and Inclusion (DEI) initiatives, including a rebranding to Diversity, Opportunity, and Inclusion (DOI). Chief Operating Officer Jenn Piepszak announced the move in an internal memo on Friday, emphasizing a shift in focus from equity to opportunity to better align with regulatory and market changes.
“The ‘E’ always meant equal opportunity to us, not equal outcomes,” Piepszak stated. “We believe this more accurately reflects our approach to expanding access to opportunities for clients, employees, and communities.”
Structural and Training Adjustments
The DOI organization will continue to report to Thelma Ferguson, while certain diversity initiatives will be decentralized, shifting into core business divisions such as human resources and corporate responsibility. This restructuring is aimed at streamlining processes and engagement strategies, potentially consolidating some internal councils and chapters.
Additionally, JPMorgan plans to reduce DEI training, reflecting broader corporate trends as companies re-evaluate diversity efforts under increased political scrutiny.
Regulatory and Political Pressures
JPMorgan’s move follows a regulatory filing last month where the bank acknowledged rising criticism over its business practices, including DEI programs. The 2025 annual filing contained only one mention of DEI, compared to six mentions in previous years.
The shift aligns with President Donald Trump’s executive order aimed at curtailing DEI initiatives in the U.S. Before Trump took office, corporations had already been facing pressure from conservative groups to scale back such programs.
Wall Street’s Changing DEI Landscape
JPMorgan is not alone in modifying its approach:
- Citigroup (C.N) eliminated its requirement for diverse slates of job candidates and rebranded its DEI and Talent Management team as Talent Management and Engagement.
- Goldman Sachs (GS.N) ended its policy of requiring at least two diverse board members for public company clients and removed a dedicated “diversity and inclusion” section from its annual report.
The corporate DEI shift reflects broader concerns about regulatory uncertainty, investor sentiment, and changing government policies under Trump’s administration.
