DEI: Why has JPMorgan Changed ‘Equity’ to ‘Opportunity’?

DEI has a new name at JPMorgan Chase.

Staff were told in an internal memo that it is now known as “diversity, opportunity and inclusion”, according to the Financial Times.

This is because “the ‘e’ always meant equal opportunity to use, not equal outcomes,” Chief Operating Officer Jennifer Piepszak told staff in the memo. 

In JPMorgan’s most recent annual report, it changed a section previously titled “diversity, equity and inclusion” to “workforce composition”. 

JPMorgan Chase isn’t the only organisation making changes to its DEI efforts. 

BlackRock and Bank of America removed references to diversity from annual reports, Google has scrapped its goals of hiring more employees from underrepresented groups and Accenture has scaled down DEI efforts. 

Why are companies moving away from DEI?

The move comes after US President Donald Trump signed executive orders following his 2025 inauguration.

Some of the orders aim to stop DEI programmes in the US Government and its federal contractors. 

One order is called Ending Illegal Discrimination and Restoring Merit-Based Opportunity.

“Roughly 60 years after the passage of the Civil Rights Act of 1964, critical and influential institutions of American society… have adopted and actively use dangerous, demeaning and immoral race- and sex-based preferences under the guise of so-called ‘diversity, equity and inclusion’ (DEI) or ‘diversity, equity, inclusion and accessibility’ (DEIA) that can violate the civil-rights laws of this Nation,” the order reads.

It revokes a variety of laws that promoted diversity and inclusion within the government.

It also orders a plan to be made to deter large organisations from having DEI programmes “that constitute illegal discrimination or preferences”.

A second order, Ending Radical and Wasteful Government DEI Programs and Preferencing, says that government DEI plans “demonstrated immense public waste and shameful discrimination”. 

JPMorgan Chase’s approach to diversity, opportunity and inclusion

JPMorgan Chase has updated its website page about DEI to replace “equity” with “opportunity”.

It says: “Together, we’re working toward an inclusive culture for our employees and our business.

“We know that building a stronger, more inclusive economy that benefits everyone is good for people, business and society.”

However, some pages of its website, including one titled Work with us, still contain “diversity, equity and inclusion”. 

The company has 10 Business Resource Groups that aim to connect employees around common interests, foster networking and camaraderie including:

• Access Ability, a group for employees affected by disabilities, long-term illness or caregiving responsibilities
• Black Organisation for Leadership Development (BOLD)
• PRIDE, an ally resource group for LGBTQ+ employees, allies and management
• Women on the Move, aiming to enable the successful retention, development and advancement of women at all levels
• Adelante, a group for Hispanic and Latino employees to identify and pursue career development and community involvement opportunities.

JPMorgan Chase’s 2023 Human Capital and Diversity, Equity and Inclusion report says: “We source talent by engaging in efforts aimed at building and fostering an inclusive work environment and strategies that attract and develop a diverse talent pool, including broad sourcing and recruiting practices and initiatives such as career coaching and mentorship.”

The 2023 report says that 51% of its employees are men and 49% women across 65 countries. 

The company has more than 300,000 employees around the world.

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