JP Morgan CIB is eyeing up Dublin as its EU base.
Hundreds of bankers working for JP Morgan’s Corporate and Investment Bank (CIB) are preparing to move to Dublin, Frankfurt and Luxembourg.
JP Morgan CIB is the latest bank alongside Standard Chartered and Barclays considering a move to Dublin.
According to The Irish Times, the company’s chief executive, Daniel Pinto, confirmed the moves were afoot.
“We will have to move hundreds of people in the short term to be ready for day one, when negotiations finish, and then we will look at the longer-term numbers,” Pinto told the newspaper.
Brexit will impact thousands of jobs in the city
Pinto said the bank has to plan for a scenario where there is no UK-EU passport deal.
In March, Bloomberg reported that JPMorgan Chase was considering moving as many as 1,000 staff members to Dublin, and that it was in negotiations about office space in the Irish capital.
Think tank Breugel estimates that London could lose 10,000 banking jobs and a further 20,000 roles in financial services.