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JPMorgan to Move Another $200 Billion in Assets on Brexit

  • U.S. bank to shift more to its European base in Frankfurt
  • JPMorgan expects to complete its Brexit changes by end of year
Updated on

JPMorgan Chase & Co. is further expanding its balance sheet in Frankfurt as it adapts to a post-Brexit Europe.

The U.S. bank expects to add a similar amount to its European hub in 2021 as it did last year, according to its annual report for J.P. Morgan AG. The unit increased by about 180 billion euros ($216 billion) to 244 billion euros last year, the document said, confirming an earlier Bloomberg report.