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JPMorgan's Dimon Says EU May Force More Brexit Moves Later

  • Bank will move ‘several hundred’ staff on day one after Brexit
  • JPMorgan CEO and HSBC chief Gulliver speak on Paris panel
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Jamie Dimon, chief executive officer at JPMorgan Chase & Co., explains why the European Union may dictate the move of more banking jobs out of the U.K. following the first wave of relocations post-Brexit. Dimon spoke at a conference in Paris, France. (Source: Bloomberg)

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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said European Union officials could force London-based firms to move substantially more employees abroad than planned if they demand additional banking operations be performed inside the bloc.

"We’re going to have to move several hundred jobs" as a first response to Britain’s plan to leave the EU, Dimon said Tuesday at a conference in Paris. “People should focus more on the second step, because what happens next is totally up to the EU.”