Home Views Banking & finance

JPMorgan started damage control as soon as Dimon made China joke

Bloomberg
Bloomberg11/25/2021 07:18 PM GMT+08  • 5 min read
JPMorgan started damage control as soon as Dimon made China joke
Jamie Dimon regrets China quip as JP Morgan initiates damage control
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

JPMorgan Chase & Co. chief Jamie Dimon knew as soon as the words came out of his mouth that the joke about China could land him in hot water.

“I was just in Hong Kong, I made a joke that the Communist Party is celebrating its 100th year. So is JPMorgan. And I’ll make you a bet we last longer,” he said on Tuesday at a Boston event. Then he added: “I can’t say that in China. They probably are listening anyway.”

Dimon, no stranger to brashness, also knew the bank would have to engineer a hasty retreat. Soon, members of the firm’s government-relations team and China offices were corralled to discuss the remarks and decide whether to acknowledge them or let them lie. Some 18 hours later, when it became clear that the comments attracted global attention, Dimon issued a statement of regret.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.