JPMorgan Chase & Co. plans to move hundreds of London-based bankers to expanded offices in Dublin, Frankfurt and Luxembourg to preserve easy access to the European Union’s single market after Brexit, the firm’s head of investment banking said.
The firm’s EU investment banking operations will likely be based in Frankfurt, while custody will be located in Dublin and treasury services will be handled in Luxembourg, a person familiar with the bank’s plans said. JPMorgan will initially move between 500 and 1,000 staff to the three cities and others in the region, the person said.