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TP ICAP May Move 60 Brokers From London After No-Deal Brexit

  • Clients in the EU need people on the ground, CEO Breteau says
  • Firm relocating some business as it braces for U.K. departure

The world’s biggest interdealer broker will shift as many as 60 brokers out of London if Prime Minister Boris Johnson crashes the U.K. out of the European Union without a Brexit withdrawal agreement.

TP ICAP Plc is firming up plans to move brokers to hubs such as Paris and Frankfurt as the likelihood of a no-deal exit intensifies, Chief Executive Officer Nicolas Breteau said in an interview.