JPMorgan Chase plans to move hundreds of London-based bankers to expanded offices in Dublin, Frankfurt and Luxembourg as it prepares for the UK to lose easy access to the European Union’s single market after Brexit, the firm’s head of investment banking said.
“We are going to use the three banks we already have in Europe as the anchors for our operations,” Daniel Pinto said in an interview in Riyadh.
“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.”
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.