JPMorgan CEO Jamie Dimon Expresses Openness to Collaborate with NYC’s New Mayor-Elect

By Eric Mack | Thursday, 06 November 2025 10:49 AM EST

A democratic socialist is set to lead New York City as Mayor-elect Zohran Mamdani takes office, but JPMorgan Chase CEO Jamie Dimon has indicated willingness to engage with the new administration.

Dimon told CNN on Wednesday that he had reached out to Mamdani but had yet to receive a response. “If I find it productive, I’ll continue to do so,” he said. The remarks followed Mamdani’s victory in New York City, where he campaigned to shift America’s model from capitalism to democratic socialism.

Dimon emphasized the importance of effective implementation, noting that many leaders fail to deliver on promises due to poor execution. “He’s a young man,” Dimon said. “Will he get good at it? I see a lot of people in big jobs who grow into them. They learn, trust others, and adjust.”

Despite concerns about mass migration from New York City, Dimon argued the narrative is flawed. “People have already left,” he stated, adding that Mamdani’s election does not necessarily signal further corporate relocations to states like Texas. “I’m not making quick decisions about New York right now,” he said, highlighting the city’s strengths in human capital and finance.

Dimon also stressed that New York must compete for business success, noting that no city has an inherent right to prosperity. He criticized political labels, insisting policies must prioritize tangible outcomes like crime reduction, education improvement, and healthcare reform. “The important thing to me is policies that actually work,” he said.

While acknowledging challenges in Democrat-run cities, Dimon dismissed socialism and communism as blanket solutions. “There are income problems in communist and socialist countries,” he said. “Bad policies cause those outcomes, not the systems themselves.”

Dimon concluded by advocating for practical reforms, including doubling the earned income tax credit to address economic disparities. “If anyone wants to fix these issues, I’m all in,” he added.