Bei Ling is joining us from JPMorgan Chase where she was most recently the managing director and global head of Talent Development and Total Rewards. She is going to be responsible for all aspects of “Human Capital Strategy”.. in layman’s terms, the hatchet guy brought in a new ax. She starts in the Fall, so just in time for Back to School/Office shenanigans.
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To be fair, if you were hiring for a head of HR for a national bank and someone had that experience on their resume, it's fair to say they'd be a contending candidate. Though given how much of the bank is no longer about nuts and bolts banking, a candidate from another industry would have been a much more interesting choice.
Lol at those who have only been getting a 3% match if your statements are true. How’d you manage that when company match has been 6% for so long? Oh wait, trolls who think it’s a 50% match on the first 6% of contribution, got it, thanks. I needed to talk that out to understand it.
An Asian hire to head HR makes a ton of sense. We need someone how knows the workforce in that area of the world as that is where a lot (maybe soon to be majority?) of our workforce.
@vty Since at least 1999, the year I was hired.
I mean I wonder who writes these announcements and if they cringe when they hit send. And WTF is the Board doing - I would think Chuckie should be questioned on talent diversity. If any manager did this HR would stop it.
@wyx+1bJ9ynBQ. You would actually lose 6 percent. If someone was making 100k per year and matched 6 percent, then the employee would contribute 6k. The company would contribute another 6k sometime at the end of December if the employee is still with the company.
Since when is the company match 6%?
@cgv+1bJ9ynBQ you would not lose 6%. You would lose 3%. The company match.
A decent raise would cover it.
The amount of churn and change over the past few years at the "exec" level is astounding. And the kicker is even before Scharf showed up we had people coming in at exec type levels with big salaries, IN NYC (zone 0) and then hiring their buds from prior companies also at big salaries and IN NYC.
Frankly, other than the layoffs and finding cost cutting areas I haven't really seen much of anything positive from a change perspective. The company is still in the dog house on consent order and other things.
There's something rotten in Bei Ling, me thinks....
Just what we need, another Buffoon from Chase!
Notice the migration from JP Morgan despite media coverage on the Foreign Corrupt Practices Act (FCPA) and Department of Justice findings.
https://www.justice.gov/opa/pr/jpmorgan-s-investment-bank-hong-kong-agrees-pay-72-million-penalty-corrupt-hiring-scheme
While this was 2016, Bei Ling is one of the executive sponsors in 2017 to "help further advance progress in diversity and inclusion." Large emphasis on China and India.
https://finhealthnetwork.org/team/bei-ling/
Perhaps she'll be influenced by her board position of International House, which seeks to influence the world of diplomacy, business, and education.
https://www.ihouse-nyc.org/about-student-housing-in-ny/board-of-trustees/
No doubt she has talent, but how much focus on multiculturalism will solve compliance and customer service issues. The churn will continue until assimilated.
Literally came to this site to post this. With lower/middle mgmt getting forced to double the number of their reports, SVP and C-Suite filling with JPM senior managers, no place for the middle to go, means less advancement opportunities for all.
They’re all getting stock options and million plus salaries while they cut expenses by dumping on the bottom half of managers, while we get a 1.75% raise for double the work
I’d get out, but since they aren’t distributing 401K contributions until end of year I’d lose 6% of my salary just for leaving
Maybe I’ll start looking at beginning of Q1 2022…
Let the games begin. May the odds be ever in your favor.
If I worked for Wells Fargo I’d be Bei-Ling too
“Human capital strategy”. Must be the new buzzword for massive layoffs of Americans.
My colleagues who used to work there are all very aware of what this means for us as an org. They in fact are here because they ran from it.
If you havent been affected by churn yet, you had best buckle up.
Wells Fargo is to Chase what the Dollar Store is to Walmart. Just a cheap knockoff. Keep on keeping on Chuckles. Bring in the rest of your friends to suck us dry. Yeeesh.🤦🏻♂️
Since they are running the Chase playbook, no big surprise.
I see she was there eight years, through most of the troubled time when they were sending employees out the door and hiring in India.