JPMorgan Started Damage Control as Soon as Dimon Made China Joke

Mea culpa underscores bank’s desire to stay in line with party
‘I can’t say that in China,’ CEO said at Boston College event

WATCH: JPMorgan CEO Dimon says he regrets saying that his bank is likely to outlast China’s Communist Party. Sally Bakewell reports.Source: Bloomberg

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By Hannah Levitt

November 24, 2021 at 6:41 PM UTC

This article is for subscribers only.

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.”