JPMorgan Chase CEO Says Company Is Expanding in Florida
Where the wealthy clients go, the money managers will follow.
JPMorgan Chase & Co. is beefing up its presence in Florida and Texas, CEO Jamie Dimon told Bloomberg Television on Monday.
“We now have more employees in Texas than in New York state,” he said. “It shouldn’t have been that way, but Texas loves you being there.”
Dimon said the bank is set to open new branches in Florida since that is where their clients (and employees) have flocked since the pandemic began in 2020. Tampa and Orlando, he added, are seeing “major operations.”
“We love Florida, we’re growing in Florida left and right,” Dimon said.
JPMorgan is not the only financial giant flying south. Goldman Sachs Group Inc. has been moving operations to the Sunshine State for years. Ken Griffin’s Citadel left Chicago for Miami in 2022. ARK Investment Management’s Cathie Wood relocated to St. Petersburg, Bloomberg noted.
“I’m a full-throated, red-blooded American patriot, a supporter of free enterprise,” Dimon said from Miami. “Florida likes business.”
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