How JPMorgan increased the number of Black interns in its Wall Street program by nearly two-thirds

How JPMorgan increased the number of Black interns in its Wall Street program by nearly two-thirds

JPMorgan Chase boosted the number of Black and female college students selected for investment bank internships by leaning on technology platforms that help the firm broaden out its campus recruiting efforts, CNBC has learned.The company said that 18% of its corporate and investment bank summer interns in North America are Black this year, a 64% increase from 2020, when the level was 11%, according to figures provided by New York-based JPMorgan. The bank also said female interns make up 55% of the 2021 class globally, from 50% last year.The move at JPMorgan could ultimately begin to change the composition of Wall Street, which for decades has been mostly a bastion for white males, particularly in senior roles. Banks like JPMorgan, which hires about 1,000 summer interns globally, use the programs to vet and train students to become entry-level bankers when they graduate.One reason the bank is making progress has been the use of two software programs that help recruiters sift through more candidates than previously was the case, according to Rob Walke, global head of campus recruiting for the corporate and investment bank."We've really opened up the way that we hire," Walke said Thursday in a Zoom interview. The intern