Blog: Jamie Dimon warns Brexit ‘tipping point’ may shift more JPMorgan staff to Europe – Financial News

JPMorgan chairman and chief executive, Jamie Dimon, warned that Brexit could force the US banking giant to shift all functions currently serving Europe from the UK across to the continent.

Dimon said that the US bank will see costs spiral as JPMorgan is forced to duplicate functions in both the City and a European location and that “few winners are likely to emerge from this fragmentation” as major European cities including Dublin, Frankfurt, Paris and Amsterdam make a grab for London’s long-held dominance in financial services.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s