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JP Morgan prepares to move hundreds of staff from London to elsewhere in Europe

by May 3, 2017

written by 3^rd May 17 11:00 am

Here’s why

JP Morgan is planning to move hundreds of staff from London to Europe in the “short term” so they are “ready for day one” for when the UK leaves the EU, said head of investment banking, Daniel Pinto.

Pinto said to Bloomberg: “We are going to use the three banks we already have in Europe as the anchors for our operations,” these will be Dublin, Luxembourg and Frankfurt where bankers.

He added: “We will have to move hundreds of people in the short term to be ready for day one, when negotiations finish, and then we will look at the longer-term numbers.”

Jamie Dimon, JP Morgan’s chief executive said prior to the EU referendum that up to 4,000 jobs could be moved, should the UK vote for Brexit.