New York City Mayor Zohran Mamdani met JPMorgan Chase Chief Executive Jamie Dimon at the bank's new headquarters on Monday.
Mamdani, who ran for mayor of America's financial capital last year as a democratic socialist, met Dimon for the first time at 270 Park Avenue.
Their talks covered issues such as cutting government waste and reducing red tape, it added.
The meeting was "constructive and the tone was friendly," a spokesperson for JPMorgan said.
Mamdani has drawn criticism from billionaires such as Citadel founder Ken Griffin for backing proposals seeking higher taxes on the wealthy.
His election plank aimed to make the city more affordable for poorer residents, pledging to freeze rents and tackle soaring costs of essentials such as groceries and childcare.
Dimon had earlier signaled the largest U.S. bank's willingness to help Mamdani. "Cities have issues and problems and it takes all hands on deck to fix those problems," he told Reuters in an interview last November.
One of New York City's largest private employers, JPMorgan contributes $42 billion to its economy annually, the bank said last year.
