Jamie Dimon, chief executive of JP Morgan-Chase, has warned the Labour Party against adopting policies hostile to banks, threatening to reconsider a $3bn investment in a new Canary Wharf skyscraper. The warning comes amid mounting pressure on Labour leader Sir Keir Starmer, with nearly 100 MPs calling for his resignation following poor local election results and four ministerial resignations.
Dimon praised Starmer and shadow chancellor Rachel Reeves but said he would review the investment if Labour's policies become too detrimental to the banking sector. The project, agreed in November last year, involves constructing a 3 million sq ft building to accommodate 12,000 employees.
The JP Morgan chief's comments highlight concerns among business leaders about a potential leftward shift under Starmer's leadership. The warning adds to the challenges facing Starmer as he struggles to maintain party unity and investor confidence.
