(Bloomberg) -- JPMorgan Chase & Co Chief Executive Officer Jamie Dimon was awarded France’s Legion d’Honneur after the US bank’s decision to boost its French operations helped Paris expand its role as a European financial hub after Brexit.
French President Emmanuel Macron presented Dimon with the award on Tuesday in Paris, the lender said in a statement Wednesday.
The US lender made Paris a key part of its post-Brexit footprint in continental Europe after the election of Emmanuel Macron in 2017. Dimon said the city was the bank’s new European trading hub when he inaugurated new headquarters the French capital last year. He’s backed that up by boosting the local workforce to 800 people from 260 in just two years.
Other US lenders have also directed investment toward Paris, allowing the French capital to get a chunk of London’s trading business after the UK voted to depart the EU. Goldman Sachs moved its Paris operations to a new office near the Arc de Triomphe earlier this year, while Citigroup Inc. created a new trading floor at its site near the Champs Elysees. Bank of America Corp. moved some staff to Paris in 2019.
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