JPMorgan Chase & Co. is expanding in Florida, opening branches in a state that’s seen an increased influx of Wall Street firms since the pandemic.
“We love Florida, we’re growing in Florida left and right,” the bank’s Chief Executive Officer Jamie Dimon told Bloomberg Television Monday in an interview from Miami.
Firms like JPMorgan and Goldman Sachs Group Inc. are bulking up their Florida presence, as employees and some of their wealthiest clients have gravitated toward its low taxes, warm weather and the perceived pro-business stance of its Republican Governor Ron DeSantis.
It’s part of a broader move that’s seen firms like Ken Griffin’s Citadel move headquarters from Chicago to Miami last year as well as ARK Investment Management’s Cathie Wood relocate to St. Petersburg, Florida.
Florida and Texas are states that “like business, they want you to come,” Dimon said. “We now have more employees in Texas than in New York state. It shouldn’t have been that way but Texas loves you being there.”
This article was provided by Bloomberg News.