Staggering how S’pore is always thinking ahead: Top US banker

JPMorgan CEO sees financial hub growing bigger; on the US, he is ‘a little cautious’

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When JPMorgan chief executive Jamie Dimon wants to get a pulse on what is going on in the world, he prefers to see things for himself and meet people in person even if it means jetting halfway around the globe.

"I like to visit different countries, and you always get to learn a lot," said the charismatic and outspoken head of the largest US bank.

"It’s an important time in the world with what’s going on now, and the best way to learn about it is to go out and talk to people."

The 69-year-old American was recently in town, his first visit to Singapore since June 2022 when he officiated at the launch ceremony of the bank’s city office at CapitaSpring in Raffles Place.

His packed itinerary this time included meetings with the country’s political leaders, senior executives from the Monetary Authority of Singapore (MAS) and sovereign wealth fund GIC, as well as some of the bank's clients.

Speaking to The Business Times in an exclusive interview, Mr Dimon — one of the most powerful figures on Wall Street today — said he sees Singapore as a key growth market for JPMorgan and it will continue to be so for the foreseeable future.

"To give you the big picture: Just look at what Singapore has done over the last 50 years. Look at the city, look at the universities and the businesses, the GDP per capita and the amount of trade."

One thing that struck him from his meetings during this visit was how Singapore is constantly looking to improve and stay ahead of the competition.

"(Singapore) is always thinking. Based on the time I spent with GIC and MAS and the political leaders, I see they are always thinking about what's next and how (Singapore) can get better. It’s kind of staggering, because you don’t get that everywhere in the world," he said.

"I think Singapore has a big chance to become a bigger financial hub. There’s an educated workforce and the country is very competitive."