Jamie Dimon Responds to Racism at JP Morgan

After a New York Times report revealed instances of discrimination at JP Morgan’s branches, the company’s CEO Jamie Dimon said to employees that he was “disgusted.”

Dimon wrote a memo to employees that was sent on Friday and obtained by CNBC. In it he said he was “disgusted by racism and hate in any form.”

“We must make sure that the culture we aspire to reaches every corner of our company,” Dimon said. “We have done some great work on diversity and inclusion, but it’s not enough. We must be absolutely relentless on doing more.”

The New York Times had reported that a black J.P. Morgan employee and customer experienced racial discrimination by managers at branches in the Phoenix, Arizona area, and even had audio recordings as evidence.

“Racism has existed for too long — in our country, in our communities — and unfortunately, at times, even at our company,” Dimon said. “But this is not who we are. We want all of you to be active in making needed progress.“

The entire memo reads:

Dear colleagues,

I am disgusted by racism and hate in any form. Any such behavior — explicit or veiled, deliberate or unconscious — is unacceptable and does not reflect who we are as a company and how we serve our clients and communities every day.

We must make sure that the culture we aspire to reaches every corner of our company. We have done some great work on diversity and inclusion, but it’s not enough. We must be absolutely relentless on doing more. I’ve instructed my management team to continually look into our policies, procedures, management practices and culture to set and achieve the highest possible standards. There is always more we can do.

Racism has existed for too long — in our country, in our communities — and unfortunately, at times, even at our company. But this is not who we are. We want all of you to be active in making needed progress.

We will use this moment as an opportunity to do better — as leaders, as employees and as human beings.

Disclaimer: We have no position in JPMorgan Chase & Co. (NYSE: JPM) and have not been compensated for this article.