JPMorgan’s Dimon visits Taiwan to meet staff, clients -source By Reuters

(Reuters) -Jamie Dimon, the chief executive of U.S. bank JPMorgan Chase & Co (NYSE:), is visiting Taiwan on Friday, a source with direct knowledge of the matter said, after concluding his first trip to China since the beginning of the COVID-19 pandemic.

Dimon’s visit to Taipei, where JPMorgan has had a banking presence since 1970, comes amid heightened tension over the democratically-governed island, which Beijing claims as its own territory. Taiwan strongly rejects China’s sovereignty claims.

On his trip, Dimon will meet bank employees and clients, said the source, who sought anonymity as the plans were not public, but added that no meetings were planned with Taiwan officials.

A JPMorgan spokesperson declined to comment.

Bloomberg first reported the development.

Dimon will also visit South Korea after his Taiwan trip as part of his Asia tour, said the source.

Dimon, who has in recent years boosted JPMorgan’s China presence, met this week with China’s Shanghai Communist Party secretary Chen Jining, who expects the bank will promote investment in the commercial hub.

Dimon favours East-West “derisking” rather than decoupling, he told the three-day JPMorgan Global China Summit in Shanghai on Wednesday. The United States and China need “real engagement” on security and trade issues, he added.