[ad_1]
JPMorgan Chase
According to an internal memo revised by the Wall Street Journal, […] the bank has asked several dozens of employees from different business sectors to look into offshoring while it expects presence in the banks. Existing European branches, including Paris, Madrid and Milan, according to Thursday's rating.
JPMorgan
said that 300 to 400 employees could be affected by Brexit. But it's the first time that he has detailed Brexit-related expansions in these cities.
The dozens of employees of the JPMorgan investment and business bank, badet management unit and badets were invited to before the Brexit deadline of March 2019, according to the memo. The missive was sent by
Daniel Pinto,
Co-Chair and Head of the JPMorgan Investment and Finance Bank, and
Mary Callahan Erdoes,
Head of JPMorgan Asset and Estate Management Unit. Reuters initially reported on the internal memo of the bank.
The dozens of employees, mainly some customer-related roles and risk management, move towards the end of 2018 or early 2019, according to the memo and a familiar person "
" Before ask other employees to consider relocating, we will expect greater political and regulatory clarity, consistent with our overall post-Brexit strategy, "according to the memo. "The timing of these new measures depends entirely on the final confirmation of an agreed transition agreement."
The UK Government is currently negotiating a Brexit Transition Agreement with the European Union. If the United Kingdom fails to obtain such an arrangement, which would result in a sudden departure by the United Kingdom, the bank will always be ready for the March 2019 deadline by moving all those it needs, said the person.
Banking licenses in Dublin, Frankfurt and Luxembourg. This will allow him to do business throughout the EU.
Pinto and Mrs. Erdoes wrote in the memo that the bank is starting to communicate with potentially affected customers about how it will deal with them after Brexit. The issues involve things like the legal entity with which a client will work in order to avoid any disruption before the March 2019 deadline.
The legal entity involved will depend on the type of person. A company that a customer does with the bank, the person familiar with JPMorgan has also begun recruiting to add to some "key positions we will need in the long run" across the EU, according to the memo. It is possible that the number of employees of the bank in the EU increases again according to the evolution of the negotiations.
Write to Emily Glazer at [email protected]
Source link
