JP Morgan's European chief moves from London to New York, impacting London's financial hub status

From Yahoo Finance: 2025-06-16 09:19:00

Filippo Gori, head of JP Morgan’s European operations, plans to relocate from London to New York after less than a year in the UK capital, joining a growing list of bankers and business leaders leaving Britain due to tax changes. His move may impact London’s status as a financial hub.

This relocation is not linked to Labour’s tax hikes, but rather to Mr. Gori’s role as co-head of JP Morgan’s global banking business, which he shares with his European responsibilities. He will split his time between Europe, the Middle East, Africa, and New York, where his co-head is based.

London has seen a trend of talent leaving for New York, including Richard Gnodde of Goldman Sachs and billionaire property investors Ian and Richard Livingstone. Mr. Gori’s move may add to concerns about London losing its financial hub status as businesses move to the US.

JP Morgan executives are competing to succeed Jamie Dimon, with Marianne Lake and Doug Petno among the frontrunners. Mr. Gori, originally from Hong Kong, spent over a decade there before moving to London. His move to New York aligns with the bank’s global strategy as more executives oversee British operations from the US.

Read more: JP Morgan’s Europe chief leaves London for New York