Rachel Reeves will hold talks with some of Wall Street’s leading financiers in Davos this week, less than hours after Donald Trump’s second US presidency gets underway.
Sky News understands that the chancellor will attend a breakfast hosted by JP Morgan on Wednesday amid speculation about the threat of US tariffs being imposed on the UK as well as the prospects for a bilateral trade deal between the two countries.
Among those attending the meeting will be Filippo Gori, JP Morgan’s European chief; Richard Gnodde, who runs Goldman Sachs’s international operations; Sharon Yeshaya, Morgan Stanley’s chief financial officer; and Jenny Johnson, president and chief executive of Franklin Templeton.
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The talks, to be held during the annual World Economic Forum, will come amid growing concern about the impact of the chancellor’s October budget on sentiment among international investors in Britain.
Despite hailing £63bn of investment committed at a key summit, weeks before Ms Reeves’ first fiscal event, the government’s non-dom reforms have sparked fears about an exodus of wealth creators from the UK.
The chancellor will use Wednesday’s event to talk up the government’s economic agenda, even after a torrid period which saw a spike in the cost of government borrowing, sparking brief comparisons with the aftermath of the Liz Truss administration’s mini-Budget in 2022.
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City sources said that Alexandra Soto, Lazard’s chief operating officer; David Livingstone, Citi’s chief client officer; and Philip Freise, KKR’s co-head of European private equity would be among those also attending the meeting.
Ms Reeves will hold other meetings with bankers, foreign governments and British company chiefs during her trip to Davos.
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Earlier this month, she travelled to China for the first formal financial summit between the two countries for about six years.
The Treasury has been contacted for comment, while none of the firms represented at Wednesday’s summit who were contacted by Sky News would comment.
