As the fallout over Goldman Sachs exec Greg Smith’s explosive resignation continues, Jamie Dimon urged JPMorgan’s employees not to seek to derive any competitive advantage from Goldman’s alleged issues.
But, JPMorgan’s bankers may seek to compete with Smith since the firm is reportedly the investment bank employees most want to leave.
Dimon fired off the following e-mail to his operating committee yesterday, according to The Wall Street Journal:
To: Operating Committee From: Jamie Dimon
Today’s New York Times op-ed by a Goldman Sachs executive is generating a lot of discussion around the street. I want to be clear that I don’t want anyone here to seek advantage from a competitor’s alleged issues or hearsay – ever. It’s not the way we do business. We respect our competitors, and our focus should be on doing the best we can to continually strengthen our own standards.
Jamie
Meanwhile, JPMorgan is the investment bank most employees want to leave, according to an analysis from London-based nonprofit Escape the City, which was launched in 2010 to help bankers no longer interested in working in finance find their dream jobs, Fortune reports.
Escape the City partner Michael Howe, who runs the firm’s New York office, analyzed data from the 55,000 people registered on Escape the City’s Web site to come up with the following list of the 10 investment banks employees most want to leave:
1. JPMorgan
2. Goldman Sachs
3. Morgan Stanley
4. Bank of America
5. Citigroup
6. Lazard
7. UBS
8. Deutsche Bank
9. Credit Suisse
10. Barclays