JPMorgan's Dimon says he regrets China Communist Party comment

4 days ago

JP Morgan CEO Jamie Dimon speaks astatine the Boston College Chief Executives Club luncheon successful Boston, Massachusetts, U.S., November 23, 2021.

Brian Snyder | Reuters

JPMorgan Chase Chief Executive Jamie Dimon said connected Wednesday helium regretted his remarks that the Wall Street slope would past longer than China's Communist Party.

"I regret and should not person made that comment. I was trying to stress the spot and longevity of our company," Dimon said successful a connection issued by the bank.

Speaking astatine a Boston College bid of CEO interviews connected Tuesday, Dimon said: "I made a gag the different time that the Communist Party is celebrating its 100th twelvemonth - truthful is JPMorgan. I'd marque a stake that we past longer."

"I can't accidental that successful China. They are astir apt listening anyway," helium added.

A JPMorgan spokesperson added that Dimon had acknowledged that helium should "never talk lightly oregon disrespectfully astir different state oregon its leadership."

"During the treatment Jamie made wide China and its radical are precise astute and precise thoughtful."

Saying helium regretted the comments comes a week aft Dimon was granted an exemption by the Hong Kong authorities to sojourn the Chinese-controlled fiscal hub without needing to quarantine.

Visitors to the metropolis from astir countries indispensable enactment successful edifice quarantine for 2 two to 3 weeks astatine their ain cost.

Dimon was successful Hong Kong for 32 hours aft arriving by backstage jet.

JPMorgan has large ambitions successful China and successful August it regulatory support from Beijing to go the archetypal afloat overseas proprietor of a securities brokerage successful the country.

Its different concern interests successful mainland China see plus absorption and futures business.

Global executives typically take their words cautiously erstwhile discussing China, wherever overseas companies person occasionally been taxable to backlash for perceived offenses.

Dimon has had to backtrack earlier from nationalist statements captious of others.

In September 2018, Dimon was speaking astatine a league and said helium could bushed President Donald Trump successful a run due to the fact that helium was smarter than Trump.

And, Dimon added, helium had earned his wealthiness and didn't get it from his father. Within an hr Dimon released a written connection saying that helium should not person made the remark and helium added that his archetypal comments had proved that helium "wouldn't marque a bully politician".