JPMorgan assigns banker to lead junior program amid work condition concerns – report

JPMorgan Chase (NYSE:JPM) has appointed a banker to manage its junior banker program as industry working conditions, particularly for young Wall Street employees, have come under fresh scrutiny, according to a Wednesday media report.

The U.S.’s largest bank tasked Ryland McClendon as the global investment banking associate and analyst leader, CNBC reported, citing a memo sent to staffers earlier in the month.

In the newly established position, McClendon will help to support analysts and associates’ “wellbeing and success, as well as equip and enable them to deliver for our business, clients and each other,” the memo said. She has been with JPMorgan (JPM) for nearly 14 years, most recently serving as the bank’s head of talent and career development.

The news follows the death of a Bank of America (BAC) associate in May, which prompted Wall Street to reassess its treatment of young staffers. BofA’s Leo Lukenas III died in May after reportedly working 100-hour weeks on a bank merger.

JPMorgan (JPM) responded in August by instructing their investment banking teams that junior bankers’ working week should be capped at 80 hours, the article said.