JP Morgan may move out staff

MILAN: JP Morgan Chase could be forced to move thousands of staff out of Britain if the country loses its automatic right to sell financial services to the EU after

MILAN: JP Morgan Chase could be forced to move thousands of staff out of Britain if the country loses its automatic right to sell financial services to the EU after last month’s Brexit vote, the bank’s CEO Jamie Di mon told an Italian newspaper. “The key issue is the ‘passport rule’ that allows us to provide services to clients in the European Union,” Il Sole 24 Ore quoted Dimon . “However, if the EU imposes new conditions on Britain... the worst-case scenario is we would have to move some thousands of employees to other branches in the euro zone.”

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