JPMorgan to Move $230 Billion Assets to Germany Under Brexit
Posted: Wed Sep 23, 2020 12:59 pm
And this could be the start of the torrent.....
JPMorgan to Move $230 Billion Assets to Germany Under Brexit
JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany.
The U.S. bank plans to finish the migration of the assets to its Frankfurt-based subsidiary by the end of the year, people familiar with the matter said. The change could boost its balance sheet enough to become the country’s sixth-largest bank, based on the assets of the biggest commercial lenders last year.
Among the Biggest Banks
JPMorgan's Germany-based unit will soon be among the Top 10 lenders
https://www.bloomberg.com/news/articles ... ium-europe
I do wonder when we will find out how Brexit has benefitted the UK ...
JPMorgan to Move $230 Billion Assets to Germany Under Brexit
JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany.
The U.S. bank plans to finish the migration of the assets to its Frankfurt-based subsidiary by the end of the year, people familiar with the matter said. The change could boost its balance sheet enough to become the country’s sixth-largest bank, based on the assets of the biggest commercial lenders last year.
Among the Biggest Banks
JPMorgan's Germany-based unit will soon be among the Top 10 lenders
https://www.bloomberg.com/news/articles ... ium-europe
I do wonder when we will find out how Brexit has benefitted the UK ...