Jamie Dimon celebrated Chase’s 1,000th branch opening, with the bank aiming to expand in a competitive banking hub.
CHARLOTTE, N.C. — JPMorgan Chase CEO Jamie Dimon received a rock star reception Thursday as he visited Charlotte to celebrate the opening of the bank’s 1,000th branch under its recent expansion initiative.
The SouthPark location marks Chase’s 24th branch in Charlotte, representing a bold move into a city dominated by banking giants.
Dimon, widely regarded as one of the most powerful men in America, spoke candidly about Chase’s strategy to compete in what he called the “backyard of some of our biggest competitors.” Charlotte serves as headquarters for Bank of America, Wells Fargo, Truist, and Ally, creating a challenging landscape for the New York-based bank’s expansion efforts.
“Charlotte is a great growth town,” Dimon explained during an exclusive interview with WCNC Charlotte Anchor Ben Thompson. “It’s the headquarters for some great banks here. It’s been growing over time. Here you have schools, universities, and businesses and research and that’s what makes it so appealing. Plus, I like being in the backyard of some of our biggest competitors.”
Despite Chase’s position as the country’s largest bank by branches, with roughly 5,000 locations nationwide, Dimon acknowledged the uphill battle his company faces in Charlotte’s saturated banking market.
“It’s hard,” Dimon admitted. “I think we’re the No. 10 bank here, and our size, I don’t think we’re even a tenth of what those banks do. Some of those clients are being well taken care of, and I don’t expect them to move. But we’re here.”
The CEO defended the continued relevance of physical branches in an era of digital banking dominance, citing impressive foot traffic numbers.
“A million people visit those branches every single day,” Dimon said. “I always say people want to visit their money.”
Chase’s commitment to Charlotte extends beyond retail banking. The company already employs 500 workers at its investment bank in the city, positioning it for potential future growth and job creation.
“It’s possible,” Dimon said when asked about expansion plans. “Once you start expanding, you get to know cities and towns, and the quality of the workforce, stuff like this.”
The opening adds one more major bank to a city that has built its reputation on financial services, further cementing Charlotte’s status as a banking hub in the Southeast.
Contact Ben Thompson at bthompson@wcnc.com and follow him on Facebook, X and Instagram.
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