JP Morgan Could Move Thousands Of Staff Out Of UK

JPMorgan Chase & Co could be forced to move thousands of staff out of Britain if the country loses its automatic right to sell financial services to the European Union after last month's Brexit vote, bank CEO Jamie Dimon told an Italian newspaper. 

Currently, banks based in the UK can sell services freely across the EU under a "passporting" system, considered the most significant feature of the EU single market for financial firms. But that is now in doubt after Britons voted to leave the bloc. 

JPMorgan has 16,000 employees in Britain. Its European headquarters are in London and the bank has offices in the English coastal city of Bournemouth as well as in Scotland.

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