Archive for the ‘Banking’ Category

UK bankers on standby as City readies no-deal contingency plans

JP Morgan, Goldman Sachs and others poised to move staff to EU offices by 29 March

Hundreds of UK bankers at JP Morgan and dozens from Goldman Sachs are on standby for relocation to EU offices by 29 March, regardless of parliament’s vote to delay Brexit.

The exodus is likely to be replicated across the Square Mile as investment banks, almost all of which are foreign-owned, put in place emergency measures to cope with a period of uncertainty that could stretch through to summer, depending on the outcome of votes in parliament this week.

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