NEW YORK: US bank JPMorgan Chase on Sunday said it had purchased a new building in the heart of Paris capable of holding 450 people, the latest step in its plans to move out of London following Brexit.
“After multiple government reforms and given the intrinsic nature of Parisian infrastructure, this is the ideal time to invest here and for more of our staff to settle here,” said Kyril Courboin, the bank’s managing director in France. CEO Jamie Dimon said at the beginning of 2019 that JPMorgan planned to shift “several hundred” jobs from London to the continent due to Brexit. The bank already moved a handful of employees at the end of 2018.
But the French capital should have already benefited from the relocation of 4,000 employees, Paris Europlace – an organisation that promotes Paris’s financial sector – said at the beginning of January.
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