JPMorgan Chase & Co. CEO Jamie Dimon has a good idea of what other cities he wants to expand to after Greater Washington.
Dimon was in Boston last week to celebrate the opening of the financial juggernaut’s first retail branch in Massachusetts when he was asked to identify what markets the bank was targeting after also making movies in Philadelphia and Boston. The bank had announced a massive $5 billion, 70-branch expansion into the D.C. region in April.
“Get a list of the top 50 — 75 — [cities] in America, look at ones we’re not in and assume one day we’ll be in all of them,” Dimon said.
He continued: “I’m saying … get that list. You’ll see that of the top 50 — I forgot the number — we’re not in, like, 15. Boston, Philadelphia, Washington would be three. Look at the next 12, and that’s probably pretty much the next target list.”
That’s a lot of new branches. And as we have seen, JPMorgan likes to lease and buy branches in its expansion regions, having…Read the full story from the Washington Business Journal.