Jamie Dimon, the chairman and CEO of JP Morgan Chase & Co. (NYSE:JPM), said the bank could reconsider its multibillion-dollar London headquarters expansion if the UK becomes “hostile to banks” again through higher taxes and stricter regulations.
Speaking to Bloomberg TV on Tuesday during JPMorgan’s Global Markets Conference in Paris, Dimon was asked whether political uncertainty in the UK and the possible replacement of Prime Minister Keir Starmer could affect the bank’s investment plans for new headquarters in London.
“Not political instability but if they become hostile to banks again, yes,” Dimon said.
Dimon said JPMorgan has already paid roughly $10 billion in extra taxes in the UK over time.
“I’ve always objected to the fact, we didn’t damage the UK in any way,” Dimon said. “I don’t think that’s right or fair. If that happens too much, we will reconsider.”
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