Jamie Dimon, the CEO of JPMorgan Chase, stated that the bank might revise its plans for the new headquarters in London, depending on the future political situation of Prime Minister Keir Starmer.

Jamie Dimon, the CEO of JPMorgan Chase, warned that the bank might reconsider its headquarters project in London, in the event that British Prime Minister Keir Starmer is replaced with a government hostile to the banking sector.

Speaking to Bloomberg, Dimon emphasized that political instability in the UK could influence JPMorgan's investment plans. The bank announced last year its intention to build a 3 million square foot tower in Canary Wharf, which would house 12,000 employees. Although a change in leadership would not affect the bank's global strategy, Dimon mentioned that it could lead to a reevaluation of its future in London. He also criticized the tax levels in the UK, citing an additional $10 billion in costs related to the project. JPMorgan has over 20,000 employees in the UK and estimates that its projects will contribute £10 billion to the British economy, creating over 7,800 jobs in the next six years.

Dimon's comments come amid political pressures on Starmer, following poor results for the Labour Party in local elections.