JP Morgan May Move 200 Bankers From London

JP Morgan May Move 200 Bankers From London JP Morgan may move 200 bankers from London. JP Morgan Chase & Co. thinks the UK is unlikely to win a deal on financial services on Brexit. JP Morgan Chase & Co. stated that Britain, which is in the process of leaving the European Union, cannot reach an agreement on financial services with the EU; For this reason, he announced that they are planning to move about 200 personnel from London on Friday. It was stated that JPMorgan employees working in areas including sales and trade will have to sign new contracts and prepare to move on time for January 1. Employees will move to cities such as Paris, Frankfurt, Milan and Madrid and receive assistance with language courses as well as six-month commute and accommodation support. The decision was taken as years of negotiations between the EU and Britain hardened due to Boris Johnson's characterization of EU negotiators as 'harassers'. Earlier this month, Bank of England Governor Andrew Bailey stated that securing a deal on financial services for investment banks was not worth with any cost. In addition, although banks operating in London, including JPMorgan, have previously switched personnel and established new European institutions, some are considering waiting for a deal before making further changes.