Jamie Dimon hasn't taken much solace from Brexit negotiations so far.
JPMorgan Chase's chief executive officer said his bank could cut more than 4,000 jobs from its U.K. workforce if a suitable deal isn't reached in Britain's exit from the European Union. That echoes the warning Dimon gave before the U.K. voted to exit the bloc in June 2016.
"If we can't find reciprocal recognition of rules — and there are a lot of people who are mad with the Brits for leaving and want their pound of flesh — then it could be bad," Dimon said in an interview with the BBC. "It could be more than 4,000."
Dimon said he'd prefer to keep a large presence in the U.K. because of the efficiency of concentrating people in one place. Banks have said they may move employees to other European cities to have operations within the EU up and running ahead of Britain's departure in March 2019.
JPMorgan plans to initially move between 500 and 1,000 staff to other European cities, Bloomberg reported last year, citing a person with knowledge of the discussions.
Prime Minister Theresa May didn't rule out the possibility of the U.K. paying for access to the European Union's single market when asked in a television interview with Bloomberg's Editor in Chief John Micklethwait in Davos Thursday.
"Obviously we recognize the importance of the financial services and we want to ensure that we can continue to see those financial services, ensuring the City of London retains its role as a global financial center," she said.
