US president’s $5bn lawsuit against JP Morgan and Jamie Dimon follows a steady rise in tensions between the two men

Weeks after Donald Trump’s first shock election win, bosses from across corporate America were scrambling to enter the president’s orbit.

Business leaders ranging from the General Motors boss, Mary Barra, to Disney’s chief, Bob Iger, quickly signed up to a new advisory council in 2016 to help shape the aggressively pro-growth policies of this new populist politician. Among them was the head of America’s largest bank: Jamie Dimon, the chair and chief executive of JP Morgan.