The main entrance to the JPMorgan Chase headquarters building in Manhattan. Photo: Erik McGregor/LightRocket via Getty Images
A number of high-profile U.S. banks have a message for their employees: Tread carefully and do not take advantage of banks under major stress from the banking crisis.
Why it matters: Some banking institutions — including Stifel and Wells Fargo — have recently been poaching employees away from stressed-out banks amid the recent banking turmoil, Axios' Dan Primack writes.
Driving the news: JPMorgan Chase, Citigroup and Bank of America have all been warning their staff to not make the uncertainty — and stress — around banks worse, Reuters reports.
Zoom out: The recent bank runs that brought down Silicon Valley Bank (SVB) and Signature Bank prompted concern among banking giants that panic could spread and infect them, too, if they aren't careful.
Since then, small- and medium-sized businesses have been pulling their money from smaller, regional banks and putting their dollars into the bigger banks — ones deemed too powerful to fail, Axios' Emily Peck writes.
Go deeper: How "too big to fail" banks became a symbol of safety
Editor's note: This story has been corrected with the correct title of Scott Orn. He is COO of accounting firm Kruze Consulting, not JPMorgan Chase.