• JPMorgan CEO Jamie Dimon lashed out at WFH in a now-viral audio recording.
• The remarks are drawing WFH defenders but also fans of RTO.
• Billionaire Bill Ackman applauded the remarks on X as "a must listen."

An audio recording of Jamie Dimon slamming remote work is going viral, and work-from-home supporters and naysayers alike are sounding off.

On Elon Musk's social media platform X, some users applauded the JPMorgan Chase CEO's defense of the bank's 5-day RTO requirement, which was first posted online by financial news publication Barrons.

"I'm with Jamie," Quentin Kasseh, CEO of data and AI company Syntaxia, posted on X, adding that "no breakthrough like the Manhattan Project is built on Zoom calls."

Hedge fund billionaire Bill Ackman also cheered Dimon on. "He is entirely right," Ackman posted on X, adding: "We can all learn from him. A must listen."

The audio recording, which Business Insider obtained and confirmed, has amassed 1.7 million views and counting on TikTok alone. In it, Dimon uses multiple expletives and anecdotes, some drawing laughter, to explain to staffers in the room why remote work is a detriment to his company.

"A lot of you were on the fucking Zoom and you were doing the following," Dimon said in the recording, "looking at your mail, sending texts to each other about what an asshole the other person is, not paying attention, not reading your stuff."

He made clear he wouldn't be flexible with the bank's COVID-era hybrid-work policy that is scheduled to end in March.

"And don't give me this shit that work-from-home-Friday works," Dimon said. "I call a lot of people on Fridays, and there's not a goddamn person you can get a hold of."

As Business Insider reported in January, JPMorgan has called all its workers back to the office five days a week starting in March. The return-to-office mandate affects less than 30% of the bank's employees, mostly back-office workers, including tech staffers.

Some viewers of the video used it as an opportunity to defend remote work.

"WFH is SO much better," one TikTok user said. "I can type notes while in a meeting. I have more energy from not commuting, and I'm more productive overall."

"Newsflash, we do those things in the office as well," said another TikTok user.

Some people suggested that the real problem is an endless stream of pointless work meetings.

"The damn unnecessary meeting is the epitome of inefficiency," one TikTok user said. "Can't stand the 7 hours of meetings that turn an 8-hour day into 12 cause nothing getting done during those meetings."

Do you work for JPMorgan? Reach this reporter at [email protected] or, for sensitive messages, on the encrypted app Signal at 305-857-5516.

• Goldman Sachs killed a policy requiring its IPO clients to have at least 2 diverse board members.
• Company reps said the change was prompted by a legal ruling over Nasdaq's board diversity initiative.
• A Tulane law professor questioned whether the Nasdaq ruling applies to Goldman Sachs.

Goldman Sachs on Tuesday terminated a policy requiring its IPO clients to have at least two diverse board members, citing a December court ruling over a similar initiative at the Nasdaq stock exchange.

"As a result of legal developments related to board diversity requirements, we ended our formal board diversity policy," said Goldman spokesman Tony Fratto. "We continue to believe that successful boards benefit from diverse backgrounds and perspectives, and we will encourage them to take this approach."

In December, a federal appeals court made waves when it struck down Nasdaq's efforts to get companies to diversify their boards.

Goldman embarked on a legal review of its policy following the 5th Circuit Court of Appeals decision, a spokesperson said. As the review was taking place, the bank took two companies public that did not meet those requirements: Titan America, a company that provides materials for construction, and Venture Global, a liquified natural gas producer.

Ann Lipton, a Tulane University law professor, meanwhile, questioned whether the Nasdaq ruling, which centered on the role of the Securities and Exchange Commission, a government agency, applies to companies like Goldman Sachs.

"The Fifth Circuit said Nasdaq as an exchange under SEC oversight can't require it," Lipton told BI. "It said nothing about what underwriters can require of clients."

The appeals court ruled that the SEC overstepped its authority by approving the stock exchange's diversity rules. The Securities Exchange Act of 1934 says the SEC's job is "to protect investors" and "promote competition," not make decisions about the makeup of corporate boards, the panel of judges said. Nasdaq did not appeal the December decision.

Still, Goldman's move follows rollbacks of other DEI initiatives by large US corporations, including Meta, Target, and Walmart. Goldman has historically been among the top banks taking companies public worldwide.

Goldman adopted its board diversity initiative in 2020 as CEO David Solomon vowed to work only with IPO clients that have at least one diverse board member. The next year, Goldman bumped that requirement up to two.

Around the same time, Goldman created a position dedicated to helping clients find diverse board members, which managing director Ilana Wolfe filled.

During her time as head of corporate board engagement, Wolfe and her team have placed about 125 diverse people on Goldman clients' boards.

The bank plans to continue to offer board placement service, a spokesperson said.

"I thought, 'it's great we put out this commitment, but wouldn't it be even greater if we were part of the solution and helped our clients get there?'" Wolfe told Insider in 2023.

Goldman's change of policy was reported earlier on Tuesday by Bloomberg.

• A 28-year-old tech banker for Jefferies died this week. The cause of death is unknown, police said.
• His body was found Monday at a residential address, according to the Dallas County Medical Examiner.
• Dallas police are investigating it as an "unexplained death," a spokesperson told BI.

Carter McIntosh, an investment banker at Jefferies Financial Group's Dallas office, was discovered dead on Monday, prompting a police investigation, Business Insider has learned.

The body of the 28-year-old banker, who was assigned to the firm's team covering technology, media, and telecommunications companies, was found at a residential apartment building called Bell Knox District, according to records from the Dallas County Medical Examiner's office.

Medical records viewed by BI on Tuesday said McIntosh's body was discovered on Monday at about 11 a.m. The records did not list a cause of death, and a spokesperson for Dallas' police department said it's still unknown.

"Based on the date, approximate time, and location, this incident is being investigated as an unexplained death," Michael Dennis, a public-information officer for the Dallas police, told BI via email on Tuesday.

Jefferies CEO Richard Handler and the firm's president, Brian Friedman, addressed the death in an internal memo to staff on Tuesday.

"It is with tremendous sadness that we report we learned yesterday that Carter McIntosh, one of our talented associates in Dallas, has passed away," a copy of the memo obtained by BI said. "Our most sincere condolences go out to his family, friends, and colleagues. We are in touch with Carter's family, who know we stand ready to support them in any way we can."

Before joining Jefferies, where he worked as an investment-banking associate, McIntosh worked at other financial-services firms, his LinkedIn page says. He was in the industry's most junior rank, analyst, at the firm Moelis & Co. until June 2023, the profile says. Before that, it says he was an equity-research analyst at Goldman Sachs in New York until spring 2021.

He joined Jefferies in September 2023, the page says.

McIntosh attended Seton Hall University in New Jersey, his LinkedIn account also says, where he graduated in 2018 with a bachelor's degree in finance.

Here's the memo Handler and Friedman sent about McIntosh's death:

Subject: With Deep Sadness

It is with tremendous sadness that we report we learned yesterday that Carter McIntosh, one of our talented associates in Dallas, has passed away. Our most sincere condolences go out to his family, friends, and colleagues.

We are in touch with Carter's family, who know we stand ready to support them in any way we can. Our thoughts and prayers are with them, and we hope that Carter's memory is a blessing to them during this very sad time.

And for all of you who knew Carter or who are impacted by his untimely passing, please remember that we have resources available to support you in your time of need. We know from experience that these resources both provide solace and help you process the natural grief we all feel. To receive access to one-on-one confidential support with a mental health counselor, please reach out to our wellness partners.

Reed Alexander is a correspondent at Business Insider who can be reached via email at [email protected] or SMS/the encrypted app Signal at 561-247-5758. Emmalyse Brownstein is a reporter who can be reached via email at [email protected] or SMS/Signal at 305-857-5516.