JP Morgan CEO says Saudi Arabia central to bank’s global strategy, hails transformation

JP Morgan Chase CEO Jamie Dimon hailed Saudi Arabia’s transformation and deepening role in global finance, describing the Kingdom and the wider Gulf region as paramount to the bank’s long-term strategy.

Speaking in an exclusive interview with Al Arabiya, Dimon said the firm’s roots in the country run deep — from a single employee decades ago to 140 today, 40 percent of whom are women.

The CEO’s comments came as the bank marked 90 years of its presence in Saudi Arabia. JP Morgan Chase has deployed $14 billion in capital in the Kingdom and works with 350 Saudi companies, including the Public Investment Fund (PIF).

Dimon praised Saudi Arabia’s “enormous economic and cultural transformation,” crediting its leadership for advancing education, modernization, and diversification.

“The progress made in this country alone is one of the most uplifting things I have seen,” he said.

He predicted a rise in foreign direct investment (FDI) into the Kingdom adding that the “breakthrough of peace in the Middle East” would be the biggest catalyst for regional investment. He credited the Kingdom’s diplomatic efforts toward regional stability.

On energy, Dimon said global demand for safe, affordable, and secure supplies — including oil, gas, and renewables — will remain strong, positioning Saudi Arabia as a leader in both traditional and clean energy markets.

The CEO also highlighted the region’s growing technology and fintech sectors, calling artificial intelligence “as transformative as the steam engine.”