Banks’ post-Brexit relocation strategies are
being slowed by differing priorities across teams, according to
a London-based in-house at a US bank.
Immediately after Theresa May’s January 17
speech, HSBC became the first major bank to give detail on its
plans post-Brexit, saying it will relocate 20% of its London
banking operations to Paris. UBS said the same number of its UK
employees would also be affected, while Jamie Dimon, chief
executive of JPMorgan Chase said that around 4000 of the
bank’s 16,000 could be hit.
But institutions appear to differ wildly on the extent of
their preparations for moving. While most US banks have
reportedly ensured they have all the required...