JPMorgan CEO Dimon drops out of Saudi investment conference

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Jamie Dimon is the latest corporate leader to drop out of Saudi Arabia’s “Davos in the Desert” event.

The chief executive officer of JPMorgan Chase, the biggest U.S. bank by assets, won’t attend the conference, bank spokesman Joe Evangelisti wrote in an emailed statement. Evangelisti declined to comment on Dimon’s reason.

The mysterious disappearance of a prominent Saudi government critic is prompting some company leaders to back away from this month’s event intended to showcase Prince Mohammed bin Salman’s modernization plan for the desert kingdom. Treasury Secretary Steven Mnuchin is facing calls to skip the conference as well.

Bloomberg News