JPMorgan’s Blessing Says Brexit Moves Now Are ‘First Wave’
- Head of JPMorgan’s Frankfurt unit comments in webinar
- Says consolidation in European banking appears inevitable
Photographer: Simon Dawson/Bloomberg
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JPMorgan Chase & Co. will probably move more bankers from London to continental Europe after some 200 employees were recently told that they’ll need to transfer because of Brexit.
The relocations announced this month are a “first wave” to respond to the prospect of a no-deal Brexit, Dorothee Blessing, the head of the firm’s Frankfurt unit, said in a Bloomberg webinar Thursday.