From Yahoo Finance: 2025-06-15 13:00:00

JPMorgan CEO Jamie Dimon criticized private equity firms for recruiting junior bankers for future jobs. Apollo and General Atlantic responded by ending the practice. Dimon’s influence has been noted on various topics, including the workplace. The firms’ decision may be linked to a slowdown in deal activity and the rise of AI.

Private equity’s “golden age” has ended due to higher costs and a slow deals market. Recruiting practices have shifted earlier, causing concerns among young bankers about the impact of AI on job opportunities. Tensions have grown over pressure-cooker hiring tactics and early recruiting timelines. Investment banks hope others will follow Apollo and General Atlantic’s lead.

Dimon’s criticism of unethical recruiting practices has had an impact. Investment banks are optimistic about the changes in private equity recruiting. The exact role Dimon played remains a mystery, but senior bankers appreciate his courage in speaking out. Others have not been able to make similar bold proclamations due to potential conflicts of interest.

Read more: Private equity took Jamie Dimon’s warnings to heart. Here’s why.