economy
Jamie Dimon says JPMorgan may rethink new London office if UK PM Starmer ousted by 'hostile' rival
Starmer's leadership is under pressure, sparking concern in the bond market.
TL;DR
- JPMorgan CEO Jamie Dimon indicated the bank might reconsider its planned London office tower if UK Prime Minister Keir Starmer is replaced by a 'hostile' government.
- The bank announced plans for a new 3 million-square-foot tower in Canary Wharf late last year, contingent on a positive business environment in the U.K.
- Dimon criticized the current tax burden on the bank in the U.K. and expressed support for Starmer and Finance Minister Rachel Reeves.
- Starmer's leadership is facing pressure following poor local election results, though support within his party is divided.
- The construction and office upgrade projects were estimated to contribute £9.9 billion to the U.K. economy and create over 7,800 jobs.