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"JPMorgan’s leader believes that when employees are inside the office working together (instead of remotely or for a few in-person days here and there) the comp

"JPMorgan’s leader believes that when employees are inside the office working together (instead of remotely or for a few in-person days here and there) the company and its employees experience greater levels of innovation, creativity and teamwork." tell me about the innovations you've pioneered, Jamie

greatgib 2y ago
Screwing people :p But that being said, just think like their boss, when doing remote work you have to record every interaction like email and chats of employees. But when they are in the offi e, you can conspire your fraud in an office room without any record. So remote work easily impact their revenue by limiting their capacity of unethical business practices... https://www.reuters.com/business/france-fines-us-bank-jp-morgan-296-mln-tax-fraud-settlement-2021-09-02/ https://www.reuters.com/business/france-fines-us-bank-jp-mor...
- mulmen 2y ago
  Sure if all employees are in one office. As soon as you need to talk to someone who is in another location and you’re right back to email and video calls.
- RachelF 2y ago
  Yep, this is a big factor for banks. No audit trail in face-to-face chats.
chuckwolfe 2y ago
At Chase you go into work, find a desk or reserve it online, and then you’re in zoom with London, Ohio and India all day I see zero point in coming into the office
- tootie 2y ago
  The same geniuses who said putting back offices in Asia and working async across massive time differences would be a boon now say you have to sit next to somebody to be productive.
  - dcrazy 2y ago
    A teammate here in the Bay Area is currently collaborating with someone in Israel. It is possibly the worst time zone difference I’ve seen. Worse than Japan/California has been for me.
    - tootie 2y ago
      I once flew from NY to Alberta for a key meeting where the stakeholders didn't come in to their own office and we did the whole thing over the phone. I once spent two days at a different client's office while they were WFH.
- dcrazy 2y ago
  A lot of the people who make money for the bank were already doing much of their job over email long before the pandemic. (Which directly led to proving the LIBOR scandal.) The longer I’ve been working under my own part-time return to office requirement, the less I think it’s about the day-to-day work. I personally benefit from having a dedicated place where work “lives” that is separate from my home. This helps me shift into a work “mode”. I know some people claim their routines are equally successful, but mine simply aren’t. In the office, I am surrounded by people who are also actively spending time in the same problem space. I’m not constantly pulled back into the domestic world by walking into the kitchen.
lefstathiou 2y ago
I believe JPM earns a ~40-50% higher return on equity than almost every other retail bank, which is extraordinary given the scale of their lending. Among banking CEOs, Jamie is regarded as one of the greatest of all time. If anyone else could achieve these results, they would. The Swiss certainly can’t. The systems, processes, culture and technology necessary to achieve that is breathtaking at their scale. They spend billions on software engineering a year. I interact with their fintech team routinely - dedicated solely to innovation - and I’m told it comprises hundreds of people globally (I’ve only met several dozen). They’ve created so many tools that power so many parts of financial markets I can’t fit descriptions of them into this window of HN. Short of maybe their private placements and equity IPO division, I can’t think of one that doesn’t deal in trillions of dollars in flow monthly (fx and settlements do this daily) which is hundreds of times the scale of the GDP of the nation of Tasmania, per day.
- svnt 2y ago
  Took a hard left at Tasmania there. Is their GDP a common measure in the banking world?
  - deleted 2y ago
    [deleted]
  - michaelhoney 2y ago
    Reply was to me and I live in Tasmania. I definitely would not recommend Tasmania as an exemplar of financial innovation :)
- danpalmer 2y ago
  At my university, JPMorgan were well known for sweeping up the bottom ~10% of each cohort. I'd never work there based on the people I know who went there, they were the students that just didn't get it. My interactions with their recruiting at conferences solidified this somewhat, as it seemed to be a graduate sweat shop with no skills development beyond what was necessary to ship the next bit of code that was legacy tech debt at the point it shipped. > tell me about the innovations you've pioneered, Jamie So I'd say the innovation is having a productive (at a business level) IT org despite the awful software engineering. The software engineer in me says that they're in a local-optimum that costs more than it needs to because they need so many people to achieve what they do given their terrible tech, but I can't really justify this. Its organisations like this that make me really consider whether doing engineering well does actually matter.
Thaxll 2y ago
I've been working in IT for the last 15 years and there is nothing that will replace sitting next to your colleague to discuss something, doing a call on teams/zoom is absolutly not the same. Remote work is fine for 2-3 days a week, full remote is absolutly worse than 2 days of social interaction.
- llamaimperative 2y ago
  The alternative for most people isn’t sitting next to their colleagues. It’s calling their colleague on Teams, but both sides of the call are sitting in offices instead of at home. Worst of all worlds.
- linotype 2y ago
  Remote 2 or 3 days a week only works when everyone does it. I’m currently in a situation where half the people are fully remote and the other half come in 2-3 days a week, and the latter are clearly second class citizens.
- blackeyeblitzar 2y ago
  A regular commute and having to live in one of a few cities only is absolutely worse than full remote more time and more freedom.
honestSysAdmin 2y ago
and coming from a company that doesn't support FIDO2 auth to protect peoples' money, yet insists on SMS 2FA.
seanmcdirmid 2y ago
Maybe if they aren’t on video conferences all day. I don’t see the point of RTO unless the team is very centralized.

greatgib 2y ago

Screwing people :p But that being said, just think like their boss, when doing remote work you have to record every interaction like email and chats of employees. But when they are in the offi e, you can conspire your fraud in an office room without any record. So remote work easily impact their revenue by limiting their capacity of unethical business practices... https://www.reuters.com/business/france-fines-us-bank-jp-morgan-296-mln-tax-fraud-settlement-2021-09-02/ https://www.reuters.com/business/france-fines-us-bank-jp-mor...

mulmen 2y ago
Sure if all employees are in one office. As soon as you need to talk to someone who is in another location and you’re right back to email and video calls.
RachelF 2y ago
Yep, this is a big factor for banks. No audit trail in face-to-face chats.

chuckwolfe 2y ago

At Chase you go into work, find a desk or reserve it online, and then you’re in zoom with London, Ohio and India all day I see zero point in coming into the office

tootie 2y ago
The same geniuses who said putting back offices in Asia and working async across massive time differences would be a boon now say you have to sit next to somebody to be productive.
- dcrazy 2y ago
  A teammate here in the Bay Area is currently collaborating with someone in Israel. It is possibly the worst time zone difference I’ve seen. Worse than Japan/California has been for me.
  - tootie 2y ago
    I once flew from NY to Alberta for a key meeting where the stakeholders didn't come in to their own office and we did the whole thing over the phone. I once spent two days at a different client's office while they were WFH.
dcrazy 2y ago
A lot of the people who make money for the bank were already doing much of their job over email long before the pandemic. (Which directly led to proving the LIBOR scandal.) The longer I’ve been working under my own part-time return to office requirement, the less I think it’s about the day-to-day work. I personally benefit from having a dedicated place where work “lives” that is separate from my home. This helps me shift into a work “mode”. I know some people claim their routines are equally successful, but mine simply aren’t. In the office, I am surrounded by people who are also actively spending time in the same problem space. I’m not constantly pulled back into the domestic world by walking into the kitchen.

lefstathiou 2y ago

I believe JPM earns a ~40-50% higher return on equity than almost every other retail bank, which is extraordinary given the scale of their lending. Among banking CEOs, Jamie is regarded as one of the greatest of all time. If anyone else could achieve these results, they would. The Swiss certainly can’t. The systems, processes, culture and technology necessary to achieve that is breathtaking at their scale. They spend billions on software engineering a year. I interact with their fintech team routinely - dedicated solely to innovation - and I’m told it comprises hundreds of people globally (I’ve only met several dozen). They’ve created so many tools that power so many parts of financial markets I can’t fit descriptions of them into this window of HN. Short of maybe their private placements and equity IPO division, I can’t think of one that doesn’t deal in trillions of dollars in flow monthly (fx and settlements do this daily) which is hundreds of times the scale of the GDP of the nation of Tasmania, per day.

svnt 2y ago
Took a hard left at Tasmania there. Is their GDP a common measure in the banking world?
- deleted 2y ago
  [deleted]
- michaelhoney 2y ago
  Reply was to me and I live in Tasmania. I definitely would not recommend Tasmania as an exemplar of financial innovation :)
danpalmer 2y ago
At my university, JPMorgan were well known for sweeping up the bottom ~10% of each cohort. I'd never work there based on the people I know who went there, they were the students that just didn't get it. My interactions with their recruiting at conferences solidified this somewhat, as it seemed to be a graduate sweat shop with no skills development beyond what was necessary to ship the next bit of code that was legacy tech debt at the point it shipped. > tell me about the innovations you've pioneered, Jamie So I'd say the innovation is having a productive (at a business level) IT org despite the awful software engineering. The software engineer in me says that they're in a local-optimum that costs more than it needs to because they need so many people to achieve what they do given their terrible tech, but I can't really justify this. Its organisations like this that make me really consider whether doing engineering well does actually matter.

Thaxll 2y ago

I've been working in IT for the last 15 years and there is nothing that will replace sitting next to your colleague to discuss something, doing a call on teams/zoom is absolutly not the same. Remote work is fine for 2-3 days a week, full remote is absolutly worse than 2 days of social interaction.

llamaimperative 2y ago
The alternative for most people isn’t sitting next to their colleagues. It’s calling their colleague on Teams, but both sides of the call are sitting in offices instead of at home. Worst of all worlds.
linotype 2y ago
Remote 2 or 3 days a week only works when everyone does it. I’m currently in a situation where half the people are fully remote and the other half come in 2-3 days a week, and the latter are clearly second class citizens.
blackeyeblitzar 2y ago
A regular commute and having to live in one of a few cities only is absolutely worse than full remote more time and more freedom.

honestSysAdmin 2y ago

and coming from a company that doesn't support FIDO2 auth to protect peoples' money, yet insists on SMS 2FA.

seanmcdirmid 2y ago

Maybe if they aren’t on video conferences all day. I don’t see the point of RTO unless the team is very centralized.