JPMorgan Chase: JPMorgan Rebrands DEI as DOI-but do the numbers back the shift?

US-based financial services giant JPMorgan Chase has rebranded its Diversity, Equity, and Inclusion (DEI) strategy to Diversity, Opportunity, and Inclusion (DOI), reflecting what the company calls a more accurate depiction of its approach. While the language shift may seem subtle, the implications are far from minor-especially as businesses across the U.S. recalibrate their DEI efforts under growing political and legal scrutiny. According to JP Morgan, the term "opportunity" better captures its long-standing commitment to creating pathways for all, without implying guarantees of outcomes. "Together, we're working toward an inclusive culture for our employees and our business," JPMorgan notes in its public communication around the change. However, as the company transitions from 'equity' to 'opportunity,' a deeper look at its workforce data raises an important question: does the progress on representation align with this evolving narrative? The bank's 2023 Employer Information Report (EEO-1) and Workforce Composition Disclosure offer a revealing snapshot of current demographics and progress-or the lack thereof-on diversity. Senior leadership continues to be dominated by white and male employees, suggesting that access to opportunity may not be translating into equitable advancement for all groups. Representation of Black and Hispanic professionals at executive levels shows only modest year-over-year improvement. In fact, the data reveals that Black and Hispanic men and women combined represent a small fraction of leadership roles, highlighting a persistent gap in upward mobility. For example, among executive/senior officials, only 158 Hispanic or Latino men and 76 women are present-a figure dwarfed by their representation in less senior or administrative roles. Gender disparity also stands out. While women constitute a large share of the total workforce, they are significantly underrepresented at the top. In administrative support roles alone, women hold over 13,000 of the 50,470 positions overall indicating gender clustering in support functions rather than leadership. At the executive team level, women represent just 28%, compared to 72% men. Although 45% of the board of directors are women, and 41% of the operating committee, the gap at the highest tier remains stark. These numbers seem to support concerns that changing the language from "equity" to "opportunity" could dilute the accountability for outcomes. While "opportunity" stresses access, it may not ensure actual progression-particularly for underrepresented groups already facing systemic barriers. Furthermore, entry-level hiring appears more diverse than the upper echelons, underscoring potential shortcomings in internal promotion pipelines. Without robust mechanisms to develop and advance diverse talent, the commitment to opportunity may fall short of real impact. As other corporations watch JPMorgan's DOI strategy unfold, the broader conversation around diversity is also evolving. In a landscape where DEI programs are increasingly politicised, companies are navigating how to stay committed to inclusion without triggering backlash. Ultimately, JPMorgan's shift to DOI signals a nuanced pivot in corporate diversity discourse. But for such a rebrand to carry weight, it must be matched by measurable progress-not just in hiring, but in advancement, representation, and culture. The numbers tell a story-and right now, that story still has some unfinished chapters.