JPMorgan in no rush to start moving staff out of London

Removal truck

'The outcomes could range from a very small change to a substantial one'.

JPMorgan is grappling with how much of its business can stay in Britain and a lot will depend on how well European Union and U.K. politicians appear to be getting along.

Reuters reports that it is still unclear whether JPMorgan would need to hive off slivers or chunks of its UK operations after Britain voted Thursday to leave the EU, Daniel Pinto, who heads the bank's global and investment banking operations, said in an interview.

Pinto and other decision makers will be listening closely to the tone of comments by EU and UK leaders over the next few weeks to see whether they are inclined to "achieve a deal that disrupts business the least" in the exit, he said.

"The outcomes could range from a very small change to a substantial one, where you would have to duplicate some of the infrastructure you now have in the UK," Pinto said of the changes JPMorgan might have to make. "It is too early to say what products you are going to be able to provide from where."

To access the complete Reuters article hit the link below:

JPMorgan post-Brexit plan hinges on tone of discourse in Europe

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