Dimon Says JPMorgan May Rethink New London Office If Starmer Is Ousted
JPMorgan chief executive Jamie Dimon called UK Prime Minister Keir Starmer "very smart" and said the bank could rethink its planned new London headquarters if he is removed from office. The comments come as cabinet pressure on Starmer to resign intensifies.
JPMorgan Chase chief executive Jamie Dimon offered an unusual public endorsement of UK Prime Minister Keir Starmer on Wednesday, calling him "very smart" and warning that the bank's planned new London headquarters could be reconsidered if Starmer is forced out. He spoke to CNBC as Labour Party pressure on the prime minister intensified.
Reports this week say both the foreign secretary and the home secretary have joined cabinet calls for Starmer to step down. Ten-year UK gilt yields rose and sterling weakened as investors priced in policy uncertainty around a possible leadership change.
JPMorgan unveiled a major investment programme last year to refurbish and expand its main Canary Wharf complex. Dimon's remarks have refocused attention on how closely the long-term commitments of global banks to the City of London are tied to political stability at Westminster.
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