JPMorgan’s most senior asset managers never leave
For one, its asset managers like to stick around for the long haul. The bank’s slides state that the retention rate for senior asset managers is 95% for “top senior talent.”
Slides presented before the presentation also show that JPMorgan’s private bank has 5,400 non-technologists trained in python. The bank doesn’t break out tech employee numbers, but in its latest annual report, the asset & wealth management arm has 26,041 employees, of which 3,137 were private banker client advisors.
The private bank is also training people a lot more than before. Total training hours per bank hire increased by 4.5 times between 2019 and 2022, although the bank didn’t give the exact number of hours for either year.
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