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JPMorgan’s Dimon says Hong Kong’s COVID-19 rules make it harder to retain staff -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO Jamie Dimon, CEO of JPMorgan Chase, speaks during the 2019 North America’s Building Trades Unions legislative conference, Washington, U.S.A, April 9, 2019. REUTERS/Jeenah Moon

HONG KONG (Reuters) – JPMorgan Chase & Co (NYSE:) Chief Executive Jamie Dimon said he believed Hong Kong’s strict pandemic measures are making it tougher for the investment bank to retain staff in the financial hub, Bloomberg News reported.

Dimon was reported to have visited Hong Kong for a 32-hour stay on Monday after receiving an exemption to bypass quarantine.

Hong Kong is home to some of the most difficult quarantines in the world. Visitors must spend at least three weeks in hotels after they arrive from various countries.

Business lobby groups https://www.reuters.com/business/hong-kongs-zero-covid-policy-undermining-financial-hub-status-industry-group-2021-10-25 have pushed the Hong Kong government to ease the strict requirements, saying the rules are undermining the city’s status as a financial hub.

Bloomberg reported that Dimon stated Monday that this makes it more difficult to retain and recruit staff.

JPMorgan didn’t immediately respond to Reuters’ request for comment outside of business hours in Asia.

The bank in August https://www.reuters.com/business/finance/jpmorgan-gets-beijings-approval-first-fully-foreign-owned-brokerage-2021-08-06 became the first overseas bank to be granted approval to take full ownership of its mainland Chinese securities joint venture.

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