Ricardo M. Peters is accusing JPMorgan Chase of racism after being passed over for varies promotions and being treated differently from his white peers.
What We Know:
- Peters worked for JPMorgan Chase for 10 years in Phoenix, Arizona. He was ranked #1 in the state and #34 in the nation overall. Although some might say these are great accomplishments, Peters claims he was passed up for various promotions because of his race and that he was treated differently than his white counterparts.
- In a statement, Peters told theGrio, “It’s easy for us to be canceled out or passed over even though we have the accolades and the qualifications to be promoted. I’ve experienced racial discrimination on every level.” He also talked about how it took him longer to become a licensed banker because of the level of racism within JPMorgan Chase. The discrimination went as far as impacting his salary with the company until a Black manager advocated for him.
- ‘APE’ became Peter’s rep code when he became licensed and he felt he was mocked by his colleagues. The company wouldn’t allow his to change his code name. Peter’s also accuses JPMorgan Chase of discriminating against customers of color as well. He kept records of Black customers who faced discriminated by the bank. He gave the example of his supervisor talking down on a Black woman who received a $372k settlement in her son’s death. The supervisor, Frank Venniro, did not consider her a customer due to where she lived.
- Peters was fired by JPMorgan Chase in October 2018 for sales manipulation. They accused him of improperly assigning credit for a new client to an employee. Peters denied the charges against him and said, “I complained to JPMorgan about my manager doing sales manipulation because it took a sale from the minority, another person of color there. It was supposed to go to him, and they gave it to someone else.” He is determined to clear his name of the allegations.
- theGrio reached out to Patricia Wexler, Chief Communications Officer at Chase for a response to Peter’s allegations but she directed them to a statement the CEO of Chase, Jamie Dimon released. Dimon wrote, “Racism has existed for too long – in our country, in our communities – and unfortunately, at times, even in our company. But it’s not who we are. We want all of you to be active in making needed progress.”
In response to his treatment with JPMorgan Chase, Peters founded Guardian Financial Wealth Management, Inc. in Arizona which offers financial advice and retirement planning.
