JPMorgan Is Said to Plan Adding 60 People in Paris After BrexitBy
Move depends on outcome of negotiations, person familiar said
Banks are making arrangements for EU presence after U.K. exits
JPMorgan Chase & Co. may increase headcount in Paris by about 60 people as part of its planning for Brexit, according to a person briefed on the discussions.
That move would hinge on the outcome of negotiations between the U.K. and European Union and would be after any transition period agreed to by the two sides, said the person, who asked not to be identified because the deliberations are private. The additions would mostly be client-facing employees, with some corporate personnel, the person said.
Financial firms have been finalizing plans to handle Brexit even as discussions among policy makers reach an impasse. Goldman Sachs Group Inc. and Morgan Stanley reportedly plan to expand their presence in Frankfurt. HSBC Holdings Plc and Bank of America Corp. have made moves to add staff in Paris.
JPMorgan Chief Executive Officer Jamie Dimon met Thursday in Washington with Bruno Le Maire, France’s finance minister, said Brian Marchiony, a spokesman for the bank.
The Financial Times reported JPMorgan’s plan to bolster staffing in France earlier Thursday.