Jamie Dimon, the JP Morgan Chase chief, and Rachel Reeves, the chancellor, will jointly host an event at next week’s World Economic Forum, two months after the Wall Street behemoth said it would open a vast new office in London in the wake of a budget which exempted the banking sector from punitive tax rises.
Sky News has learnt that Mr Dimon has agreed to introduce the chancellor at a roundtable gathering in Davos, Switzerland, next Thursday, which will be attended by the bosses of some of the world’s biggest multinational companies.
Sources said the meeting would form part of the chancellor’s efforts to embark on a renewed push to promote Britain as an investment destination around the world.
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The invitation issued by Mr Dimon’s office refers to “a unique opportunity to engage with a key policymaker on the UK’s current economic landscape, plans for growth and investment, and policy reform”.
The JP Morgan chairman and CEO, who is widely regarded as the world’s most influential bank chief, said in the wake of November’s Budget that Ms Reeves’s “focus on financial discipline is something that the market should welcome, as is the encouragement of retail participation in UK capital markets”.
An artist’s impression of plans for the new JPMorgan Chase building in central London. Pic: JPMorgan Chase
On the day following the budget, JP Morgan confirmed plans to develop a new headquarters in London’s Canary Wharf capable of housing 12,000 of the bank’s employees.
Speculation about significant additional levies on the banking industry had been rife in the weeks leading up to the chancellor’s fiscal statement with JP Morgan potentially among the institutions which would have been adversely affected by such a move.
The Treasury ultimately decided against hiking existing taxes on the sector.
Ms Reeves’s new year charm offensive with business leaders will kick off on Tuesday when she hosts a pre-Davos reception aimed at presenting her economic priorities for 2026.
JP Morgan and the Treasury declined to comment.
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