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Bank staffing moves under Brexit becoming clearer

Published 11/15/2017, 11:38 AM
© Reuters.  Bank staffing moves under Brexit becoming clearer
BAC
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JPM
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  • JPMorgan (NYSE:JPM) has begun telling staff whether or not they'll be relocating out of the U.K., according to The Telegraph. Operations are set to be "beefed up" in Ireland, Germany, and Luxembourg just in case of a "hard Brexit."
  • Speaking to a House of Lords committee today, JPMorgan's Sally Dewar says the bank is "already in execution mode" on its Brexit contingency plans.
  • Bank of America (NYSE:BAC) COO Tom Montag yesterday said his bank plans to initially move 200 sales and trading staff to Paris and Frankfurt, but plans are subject to change. "You want to have it right from day one ... Who knows what happens on this, but that’s what our plan is now, and we feel pretty comfortable with it.”
  • Now read: The Tax Bill Comes Due


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