THE chairman of JP Morgan has clashed with Donald Trump after suggesting he could beat the president in an election.

Jamie Dimon, chairman and chief executive of the bank – which is Bournemouth’s biggest private sector employer – said he was “smarter” than Mr Trump and as tough.

Speaking at an event at the bank’s New York headquarters, Mr Dimon said: “I think I could beat Trump. I can’t beat the liberal side of the Democratic party.

“I’m as tough as he is, I’m smarter than he is. I would be fine. He could punch me all he wants, it wouldn’t work with me. I’d fight right back.

“And by the way, this wealthy New Yorker actually earned his money. It wasn’t a gift from Daddy.”

The bank chief later said he should not have made the comments, adding that the episode “proves I wouldn’t make a good politician”.

Mr Trump responded in a tweet: “The problem with banker Jamie Dimon running for President is that he doesn’t have the aptitude or ‘smarts’ & is a poor public speaker & nervous mess – otherwise he is wonderful.

“I’ve made a lot of bankers, and others, look much smarter than they are with my great economic policy!”