Crunch time
US banking giant JPMorgan has asked “several dozen” UK employees in the corporate and investment bank to “consider relocation from the UK”, a memo first reported by Reuters showed.
The development comes just a day before PM Theresa May is set to host crunch talks with ministers at Chequers on how she wants to shape Britain’s future trading relationship with the EU.
“Before asking other employees to consider relocating, we will wait for further political and regulatory clarity, ” Daniel Pinto, head of JPMorgan’s corporate and investment bank, and asset-management chief Mary Erdoes wrote in the memo, adding: “The timing of these further moves is entirely dependent on whether an agreed transition arrangement is finally confirmed.”
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