JPMorgan establishes new position to manage junior bankers' workload as Wall Street grapples with workload issues.

• JPMorgan Chase established a new worldwide position to supervise all junior bankers in an attempt to optimize their workload following the demise of a Bank of America associate in May, prompting Wall Street firms to scrutinize their treatment of their youngest employees.
• In a memo sent this month, Ryland McClendon was named the global investment banking associate and analyst leader of the firm.
• The memo emphasized that McClendon would prioritize the "well-being and success" of junior bankers.

JPMorgan Chase has established a new worldwide position to supervise all junior bankers in an attempt to optimize their workload following the demise of an associate in May, prompting Wall Street to scrutinize its treatment of its youngest workforce.

CNBC has learned that the firm named Ryland McClendon appointed its global investment banking associate and analyst leader in a memo sent this month.

Investment banking and trading's lowest positions are held by associates and analysts, who are highly sought after by recent college graduates for their high salaries and opportunities.

McClendon, a 14-year JPMorgan veteran and former banker, will assist in promoting the "well-being and success" of junior bankers.

JPMorgan, the largest American investment bank in terms of revenue, is responding to the recent untimely death on Wall Street by examining what it can learn from the tragedy, following in the footsteps of Bank of America, whose CEO Leo Lukenas III died after working 100-hour weeks on a bank merger in May.

JPMorgan's senior managers instructed their investment banking teams to limit junior bankers' workload to no more than 80 hours, as part of a renewed focus on tracking their workload, starting in August.

The person declined to be identified when discussing the internal policy regarding live deals.

Dimon's warning

At a financial conference at Georgetown University on Tuesday, Dimon criticized certain Wall Street traditions, arguing that some of the long hours worked by junior bankers are due to inefficiency rather than necessity.

"Investment bankers have been traveling all week and upon their return, they assign four tasks that require working all weekend, which is not fair, Dimon stated."

If their analysts and associates frequently violated the policy, senior bankers would be held responsible, according to him.

"Dimon cautioned, "You're breaking it. Stop immediately or face consequences in your bonus, to demonstrate our commitment.""