JACKSONVILLE, Fla. – The largest bank in America announced an investment in Northeast Florida. JPMorgan Chase plans to open 10 new branches in the region, which would increase branch presence by about 50%.
Chairman and CEO Jamie Dimon spent the day in Jacksonville Wednesday for the announcement.
“First, we love being here,” Dimon told This Week in Jacksonville: Business Edition host Kent Justice in an exclusive interview at the downtown Chase branch on Adams Street.
“Ten years ago I came to open the first branch here. We’ve since then opened twenty. We’re announcing ten more. Those are branches but also every time we do stuff, we bring in mortgages, private banking, commercial banking middle market, not in the branches, but in other parts here,” Dimon said.
WATCH: UNF collabs with Johnson & Johnson to advance manufacturing engineering
“Years ago we also had a big mortgage operation,” Dimon said. “We have almost 2000 people here now. And we just named that building to be a Corporate Center, which means we’re adding more corporate services here over time.”
Dimon has made a significant impact on the banking industry. He’s been the bank’s CEO since 2005. He said it’s simple to understand JPMorgan Chase expansion in the region.
“I’m from New York, and I just spoke to a bunch of folks here and the wise ones are coming to Florida where it’s the sunshine, the Sunshine State. People love it when they move, and I spoke to a lot of people who’ve left New Jersey and Chicago and New York, they’ve come here and of course, you know, we want happy employees.”
While Dimon discussed the bank’s plans to grow in North Florida, we also discussed his criticism of America’s national debt. He said it’s a crisis that needs much attention.
Missed an episode?: What’s going on with the Laura Street Trio?
“Obviously, the sooner you deal with it, the better. I don’t know when it might cause a problem, but we know it’s there, and we should deal with it.”
On the economy, Dimon said there’s still a lot of stimulus in the system, which has given the economy a bump since the pandemic began almost four years ago.
“As a business person, I build my company to serve a better job you in Jacksonville and your government and your hospitals and your schools but I think I’ll make a broader point, good public policy matters,” Dimon said. “You can really accelerate growth here.”
Dimon also talks about the importance of culture in the workplace, his view on what he calls “the most important relationship the next hundred years,” and the spending trends from the federal government.