Recognizing and rewarding exceptional students – people with unique experiences and diverse backgrounds – is fundamental to sustaining J.P. Morgan’s global reputation. To this end, the Investment Bank’s Black Leadership Forum (IB BLF), Junior Resource Management and the various lines of business have been enhancing recruiting diverse candidates through an undergraduate scholarship and internship program Launching Leaders.
J.P. Morgan recently hosted an awards ceremony and networking event for the inaugural Launching Leaders scholars and their parents. “We strongly believe that different perspectives and experiences bring strength and creativity to our work here in the IB and ultimately lead to the best solutions for our clients. The Launching Leaders program is a natural extension of our internal culture and one that we are proud to roll-out this year,” Steve Black, co-CEO of the Investment Bank, said in opening the awards ceremony.
The program was conceived to provide talented Black, Hispanic and Native American students with an opportunity to showcase their talents through summer internships that can lead to joining J.P. Morgan's full-time analyst class. Launching Leaders scholars also receive scholarships of up to $10,000.
After a highly competitive review of 80 applications and a round of interviews, the investment bank welcomed 16 Launching Leaders scholars to this summer's intern class across the Investment Banking, Sales & Trading and Research functions. Further differentiating the program, J.P. Morgan invited the parents of the scholars to attend the program.
The awards ceremony was followed by a tour of our headquarter’s trading floor in New York City and a closing reception. Gene Saffold, a managing director in Tax Exempt Capital Markets (TECM), and co-chair of the IB BLF, said in his closing remarks: “Today’s events underscore the Investment Bank’s commitment to diversity and building a pipeline of future leaders. The unanimous support of the Investment Bank Management Committee and management across the firm is both encouraging and telling.”
Also designed under the Launching Leaders program, J.P. Morgan hosted 50 students from Florida A&M University, Howard University, Morehouse College, Spelman College, Clark Atlanta University, Georgia Tech and Baruch College for The Launching Leaders Experience.
This two-day April session was designed to give the sophomore and freshmen students a first-hand opportunity to learn about J.P. Morgan and careers in investment banking through job shadows, panel discussions, training modules and a variety of networking activities.
At a lunch panel, J.P. Morgan traders and bankers shared their career histories at the firm, described the typical work day, and stressed the importance of networking to build connections and further mobility options. Malaika Jones, a mortgage securities trader who started in mergers and acquisitions, explained that she ultimately moved into trading through the connection she made with a female trader who served on a committee with her. “I found that I have a passion for trading,” she said.
Having a passion for the work came up repeatedly among the participants. Emmit Horne, a bond salesman based in Chicago, urged the students to find a role that they could be passionate about. As the panel moderator, he said, “You can’t work in this business without having a passion for what you do.”
Tracy Williams, a managing director with 25 years at J.P. Morgan, touted the firm’s global network for its mobility advantages. “We have a global network so you are not limited to one product, one asset class, or even one region,” he said. “I like the intellectual challenge that provides.”
Ricardo Barragan, in equities finance, agreed, saying that J.P. Morgan’s platform permits employees to move around, to pursue their interests. “The platform is robust, so you can do a lot of different things,” he said.
Other panel participants included: Carmen Gellineau, in Sales; Ron Dottin, in Research; and Ken Jarrett, an oil trader.