'Florida Likes Business': JPMorgan Chase CEO Jamie Dimon Says the Company Is Expanding in Florida and TexasA spate of Wall Street firms moved to Florida since the beginning of the pandemic.
Key Takeaways
- JPMorgan Chase & Co. is expanding in Florida and Texas.
- CEO Jamie Dimon told Bloomberg Television this week that the company has more employees in Texas than New York.
Where thewealthy clients go, the money managers will follow.
JPMorgan Chase & Co. is beefing up its presence in Florida and Texas, CEO Jamie Dimontold Bloomberg Televisionon 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 beenmoving operationsto the Sunshine State for years. Ken Griffin's Citadel left Chicago forMiami 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."
