JPMorgan chief executive Jamie Dimon warned employees not to seek advantage from competitors’ “alleged issues” after a former Goldman Sachs banker sparked a firestorm by charging that Goldman managing directors viewed clients as “muppets.”
Dimon’s memo, awaiting Asia employees in their e-mail inboxes Thursday morning and a copy of which was seen by Reuters, also implored staff to focus on their own bank’s standards amid the furor stirred after ex-Goldman banker Greg Smith published a scorn-filled resignation letter that referred to his former employer as a “toxic and destructive” place.
“Today’s New York Times op-ed by a Goldman Sachs executive is generating a lot of discussion around the street,” Dimon said.
“I want to be clear that I don’t want anyone here to seek advantage from a competitor’s alleged issues or hearsay — ever. It’s not the way we do business.”
