Special stocks took Jimmy Damon’s warnings to the heart. This is the reason.

• JPMorgan recently drew a line in the sand due to the recruitment of special stocks of new bankers.

• Within a few days, Apollo and General Atlantic said they would expel this year.

• Here are some other factors that may have played a role in their decision.

When Jimmy Damon He speaksPeople listen.

Early last week, the CEO of JPMorgan criticized the practice of private stock companies that employ small bankers for future jobs. After days, acquisition stores Global Administration Apollo and Atlantic year The warning respond and announced that they will stop your recruitment tactic.

Even the CEO of Apollo, Mark RawanIt seems that he returns to Damon for his company’s decision.

“When someone says something clearly correct, I feel I have to agree on,” said Rawan, CEO of APOLLO last week, after his company’s decision to back down from employing 2027 Associates.

Damon, who has Installed More than a wide range of topics, including economics WorkplaceIt was not strange to criticize employment practices in private stocks.

he burst They have last year, and he told the students at Georgetown University that he believed they were “immoral” and that he wanted to ban them.

“I think it is wrong to put you in this position, adding:” You have to decide a kind of next job step before you have the opportunity to decide what the company is. “

The question is, why now? Nothing changed last year – what prompted Apollo and General Atlantic to the sudden opposite of the path?

No one responded to the interview requests from BI to speak with the executives in time to publish this story. However, those familiar with the industry pointed to a series of factors that they said facilitated the companies to respond to the words of Damon’s warning, including The constant slowdown in the activity of the deal and Ascension of artificial intelligenceWhich can Replace the need For some early job functions.

The frustrations were also rising to the process of employment that has been transformed early and in recent years.

“The matching process results in a decrease in the success rate, and many candidates will be signed without knowing what they are entering,” said Matt Ting, founder of Peak Frameworks, who is providing courses in Wall Street Professions in Wall Street in April.

Some people said that in the event that any of these factors changes (the deal activity, for example), the racing of the mice may return to the back.

“Being sarcastically, it is time for them to make such a decision,” said one of the senior bankers, who asked not to be identified to protect his job and his relationship with financial sponsors.