저자: JamieDimon · 외국인
요약 보기
JP모건은 전국 19개 커뮤니티 지점을 저소득 지역에 개설하고 커뮤니티 매니저·소상공인 컨설턴트로 지역 밀착 영업을 강조함. 재택근무 축소는 젊은 직원의 성장과 혁신 저해를 이유로 옹호. 연방 DEI 압박에는 일부 프로그램 수정 가능성을 인정하나 전면 폐지는 부정. 인플레이션 방향은 예측하지 않음, 관세 영향도 불확실하다고 답변. 주택 공급 확대를 위해 모기지 규제 완화(10bp 추가비용 언급) 필요성 제기.
다듬은 글
There are 19 branches, community center branches across the country. Why invest in Columbus, specifically here in the Lynen community? Yes. Well, first of all, we continually invest in the United States. We are now in all 48 states. We are probably one of the few banks that has opened branches. We have 5000 branches.
We've been investing in Columbus since I've been here. And these are great, we call them community branches. There are 19 of them. So we're going to low-income neighborhoods. More space. We have public space. We have what we call a community manager. Traditionally we had a branch manager. The community manager is meant to get to know the entire community .
Think about religious institutions, businesses, and invite them to learn about mortgages, how to bank, how to own a product, how to save money , how to buy a house—the things we should be teaching people. And it elevates society. Works. It's commercial. You know, we make money doing it. And it has been something wonderful .
In fact, when we started, we did a couple of things. We opened community branches. The first one was in Harlem 5 years ago. I returned. It was a complete success and now we are part of that neighborhood. And then we created the community administrator. So all 19 have community administrators. It was very successful.
We now have 150 in many communities. We have a community manager who reaches out to the community. And then we created something called a small business consultant. Do we have a small business consultant here? I think so. We advise small businesses on how to do a better job. It could be about how to make a budget, sign a contract, save money, or where to open a second restaurant or store, or something like that .
And it's been great. Part of what makes America great is trying to do a better job for our society. Last month I spoke to the business public this morning at breakfast. So, what would you like to say to the Lynon community here? Yes, look, we're here permanently. You know, JP Morgan isn't exactly a friendly guy.
You know, every community is different and we want to be a part of it here, and there's evidence that when we came to the city we helped other businesses here and trained people, and usually many of the people they hire here are local. So, the revenue is here. Just so you know, that's what we try to do, to try to ensure that, even though we are a large global company, business is conducted at this level.
And then, people look, you know, at the CEO, the president and CEO of J Morgan Chase, you know, but that's not where we take the business, it's actually here. You know, it's a customer who comes into this branch or any branch, and remember that these branches don't just serve consumers; They serve small businesses and, over time, also help mid-market companies.
You announced, uh, well, the company announced a month ago the return to work, talking about having people inside , uh, why did they feel it was necessary to bring back five days in the workplace? Yes. So remember, this is for the United States. 60% of the people worked throughout the entire company and I always say to work from home.
Yes. Well, where do they get their food? UPS, FedEx, Amazon, agriculture, manufacturing plants, hospitals, police, firefighters. The idea that everyone works was wrong. So, at JP Morgan, we already had 60% working full time, and in fact, the branches were completely full-time occupied . In certain operations centers, you know, 10% will always work from home.
I'm not against working from home. So , this is a... I'm not against working from home if it actually works . So, we started something called a virtual call center. We started in Detroit. Well, now there are almost 200 people working from home 100% doing the same work as in a call center, but it's 100% effective.
It was 100% effective, I simply wouldn't do it. It's the other 30 % you're talking about, which, you know, we had three days a week. But this is the basic problem. It doesn't work. OK? And I'm not against people wanting to work from home. But if you're young, you get left behind. It harms you. You have fewer relationships.
There is less diversity at home than at work. You learn more slowly. We can already see that they are falling behind. It doesn't work for innovation, speed of decision-making. It simply doesn't work. We're going to do it our way. I fully respect and appreciate anyone who does n't want to do it. But, you know, they can vote with their feet and work somewhere else .
They're not going to tell JB, More, and Chase what to do. And yes, there are some people who don't like it . If you were one of them, I'd say, "I've got it ." Then you should probably look for someone else , but in the meantime, do your job for us. Did you lose any employees because of that? I doubt we'll lose many employees.
Do you see any benefits? Yes, but even we did it. There are other people who say that our people are going to work from home and we are not doing that. And that's called freedom, it's a free country. So I applaud the people who do it, but they're going to have to face us on the competitive battlefield.
We will have better people, better decisions, more innovation, more creativity. And I refuse to harm young people the way he is harming them. They are literally being left behind, in many different ways. And well, uh, in fact, many of them like it, I mean , they like going to work. I mean , probably many of you met your spouse there, right?
Let's be honest about society. Being together works. We are social human beings. And that's why I 'm not against other people doing it their way. And for certain jobs it works. There are certain technology companies, etc. Do you see benefits in Columbus? We may not have a plan yet, but they work. We could do more.
Do you see benefits for the local economy if people return to work? And do you also think the Polaris headquarters will have enough capacity to accommodate the workers there? Yes, I think it helps local communities, and that's not the reason we 're doing it, but if you go to many cities, they're very happy to have certain people returning to work.
So, think about local retailers and restaurants and things like that. And I believe Plaris has all the capabilities we need. There are certain places that don't have it, so we'll be adding it little by little. We need to redesign the space or add some space or something like that. But again, it's only a matter of time.
It's not... I'm sure you'll read articles about how there was no space when I arrived. Okay. Okay, fine . When I was a young executive, I remember we had a branch like a branch office, but a corporate branch like this, and sometimes there were too many people there and there were four of us in a small office.
Alright. Life goes on, and I don't want to hear too many complaints about that. Incidentally, they shouldn't tolerate it either . Yes. You mentioned diversity, Your Honor, and there has been federal pressure to get rid of the EDI programs. Why are state mortgage lenders standing firm on not getting rid of their DEI programs?
Yes. Well, first of all, I don't like nicknames. You know, they get abused and people attribute values to those nicknames, and some things were exaggerated. So I'm not going to defend all the things that were done. This is what it means to us. This branch, I remind you, caters to the richest white people in the world.
We are getting closer to the richest countries in the world. We provide banking services to the world's largest companies. We provide banking services to cities, schools, states , and hospitals. We approached the veterans. We have programs for people with disabilities. We have programs for a million different things.
We also reach out to low-income neighborhoods that are not 100% Black, but are Black and Hispanic. They are also poor whites. And that's what we do . Works. It is 95% commercial. And everywhere I go, red states, blue states, red cities, blue cities, mayors and governors love what we do. They like what we do here.
They want us to do it . They want us to elevate society. And, in my opinion, it's no different than if you had a small bakery in a village. You participate in the community. You take your food to a homeless shelter. You'll probably help a minor league team or a local institution. That's called humanity.
And I don't know anyone who's actually against that. But could you be against certain programs that went too far? Yes of course. And if you had to change certain things in the law, we probably would. And we could modify some because, you know, there are a couple of programs I know. A total waste of time.
Okay. You tried them, they didn't work, move on. I won't tell you what they are . But what about the DEI as an employer? Are you...? Many companies are eliminating their employee ID. They are not doing it, if we study what they are doing. They are not removing all of these programs. They are modifying them, changing some of them.
But you know, I guess we recruited 26 H.B.CU. We're going to recruit, and, as is the case when you arrive in a community like this, we'll hire locally. Well, obviously, they're going to be a large minority group. In other parts of the world, they might be Hispanic. Elsewhere. So yes , we're going to reach out to these communities, hire locally, and hire great people.
We have special programs to hire people with neurological disabilities. He could be an autistic child. He could be a soldier who caused serious damage in the war. I've been to graduation ceremonies, and the moms and dads are crying. We reach out to the communities. We will continue to reach out to communities and, obviously, respect the law of the country .
What do you expect the overall impact to be on this community in the coming years? Well, I hope that with time what we have seen and try to study better will improve the community. Contribute more income here. It can attract more small businesses. And little by little we can educate the community in what I call financial education.
In fact, I think you in the press should be teaching financial education from kindergarten through sophomore year. They should teach it to children and parents, like: What is saving money? What is a checking account? What is an emergency fund? How much does a payday loan cost ? How much does it cost to cash a check?
You know, and all that stuff. So, if we do it right, all of that will improve. And we have seen it, that's why we now have 19 and not one. If the first one fails, we'll have zero. Mr. Diamond, in his April letter to shareholders, mentioned that he warned about persistent inflation. Today we have the CPI figure.
Inflation accelerated in January. She hasn't seen it yet. Yes. So it went up in January. So, what do you think about it? And also, how do tariffs influence this? Yes. Well, I didn't realize the rates had gone up, and I think that's true. I pay a little attention to the economy, to the weather, and I don't know if it's going to go up or down.
I think it's more important to have jobs, plenty of jobs, since unemployment is much more painful than inflation for most people. So I expect it to peak, and if it goes down, I really do n't know. Tariffs, if used correctly, could be an outdated or misused weapon, or they could be inflationary, or they may not be at all.
So I really don't know and I'm observing it like you are over time. Okay, I have one more question. Affordable housing is a major problem across the state. What role do financial institutions play when it comes to trying to buy a house? Yes. Well, we're probably the largest affordable housing bank in the country, and I already mentioned that we finance cities, schools, states, universities, and hospitals.
So we are deeply rooted in these communities. If you saw the list of everything we do here, you'd be surprised. Affordable housing has multiple advantages. Firstly, they are often local. They 're not in my backyard. You can't build a second floor. You can't rent out your basement. You cannot build here.
You can't build there. Sometimes it's local. Sometimes it's federal. But, you know, we need 8 million more homes. But I'm going to tell you about a problem with the regulations. You know, people say they're talking about anti-regulation or deregulation. Actually, it's a suitable regulation. We all need good regulations for food, banks, and things like that.
But the regulations that were put on mortgages after the great financial crisis make a $200,000 mortgage probably 100 basis points more expensive because they are excessive. They don't avoid risk, that would be your problem. But if you saved 100 basis points, many more people would buy that first home.
And starter homes have fewer "not in my backyard" problems than building homes in communities that are already there. And that's how we free up rental units and things like that . So there are many things that can be done to solve some of these problems. Guys, we have time for one last thought, a local question before the press conference.
Where are they going to eat after this? I don't know where. In fact, I'm going to Plaris to hold a public meeting, then we'll have lunch somewhere, and then I'll go to Atlanta and then to DC. The five. OK. Mr. Diamond, thank you for your time. Thank you so much.
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