JPMorgan prepares the transfer of several dozens of workers outside the United Kingdom

JPMorgan Chase has asked dozens of employees to lead the first wave of relocations from the UK to continental Europe early next year, initiating plans to protect its business after Brexit, according to an internal memo sent to workers and consulted by Reuters.

In its first mbad communication this year to its 16,000 employees in the United UK compared to Brexit, the entity highlights the organizational and strategic challenges facing global banks while they are at risk. prepare for the British exit of the European Union (EU).

The note is published one day before the British Prime Minister, Theresa May, receives at her home in Checkers the ministers with whom she will discuss how to reform trade relations with the EU-27

The President JPMorgan's Corporate & Investment Banking division executive, Daniel Pinto, and Mary Erdoes, executive chairman of the Asset Management division, sign the e-mail sent note that also delineates the firm plans to strengthen its presence in cities such as Madrid, Paris and Milan

Up to now, the US entity hopes to strengthen its subsidiaries in Frankfurt, Luxembourg and Dublin, where it already holds a banking license

. JPMorgan confirmed the authenticity of the memo, which was also sent to its staff in Continental Europe, the Middle East and Africa, but declined to comment further.

Employees who promised to leave the UK before the so-called "Brexit Day" on March 29, 2019, they work primarily in customer service or risk badysis duties in the divisions of investment banking and badet management

Other banks have already suggested the possibility of transferring employees to Madrid.Last year, a source said Citigroup was studying by moving its private banking division to the Spanish capital.

The memo also states that JPMorgan should move or add "a few hundred jobs" to its labor force in the US. EU by March next year and that it has already started looking for candidates for key posts, but resettlement could be more gradual if an appropriate transition agreement is confirmed. [19659003] The total size of its workforce in l & # 3 9; EU depended if the transition agreement is confirmed. "

" We want to avoid affecting the lives of employees and their families with changes that may be unnecessary or premature, as long as political negotiations and regulatory consequences remain unclear, "says the memo