Morgan Stanley Said to Consider Moving London Staff on Brexit
- Bank has 5,000 staff in U.K. capital, 3,000 in rest of Europe
- U.K. votes next week on whether to pull out of European Union
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Morgan Stanley may move about 1,000 employees out of Britain if the U.K. votes to leave the European Union next week, said a person with knowledge of the bank’s contingency plans.
The U.S. lender may relocate as many as one-sixth of its U.K. employees over a number of years if voters opt for a so-called Brexit, said the person who asked not to be named because the details are private. The bank has about 5,000 workers in London and additional workers in other parts of the U.K. The Sunday Times reported the potential moves earlier.