JPMorgan to Move $230 Billion Assets to Germany Under Brexit

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Jimgward
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JPMorgan to Move $230 Billion Assets to Germany Under Brexit

Post by Jimgward » 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 ...

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Jimgward
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Re: JPMorgan to Move $230 Billion Assets to Germany Under Brexit

Post by Jimgward » Sat Sep 26, 2020 11:28 am

https://www.theguardian.com/business/20 ... s-domicile

Britain’s richest man, who campaigned for Brexit, is moving to Monaco. (He also has moved lots of business into Europe)

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