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Morgan Stanley Denies Report It Started Moving London Staff

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Morgan Stanley denied a BBC report that it had begun to move 2,000 London investment-banking jobs to Dublin or Frankfurt after Britain’s voters chose to leave the European Union.

The referendum “will have a considerable impact, the extent of which will not be known for some time,” according to a statement Friday from Morgan Stanley spokesman Wesley McDade, who said the company hasn’t started moving staff out of London. “There will be at least a period of two years before an actual exit takes place, so there will be time to implement any changes required to adjust our business to the new environment.”