Jamie Dimon warns JP Morgan may rethink new London office if 'very smart' Starmer is ousted as UK PM

JP Morgan

may reconsider a planned multibillion-dollar office tower in London if U.K. Prime Minister Keir Starmer is ousted, the bank’s CEO Jamie Dimon said on Wednesday.

Speaking to Bloomberg in Paris, the head of America’s biggest bank said that while a change in leadership would not change JP Morgan’s fundamental strategy, it could force the lender to rethink its future in the U.K. capital.

JP Morgan announced late last year that it would build a new three-million square foot tower in London’s Canary Wharf financial district to house up to 12,000 employees and serve as its U.K. headquarters. Construction is expected to take six years, during which time JP Morgan will also renovate its existing building on London’s Bank Street.

At the time of the announcement, JP Morgan said its plans for the new building were “subject to a continuing positive business environment in the U.K. and the receipt of the necessary approvals and agreements at a national and local level.”