Reportedly, Investment bank JP Morgan (JPM) has opened up its European headquarters in Paris as Brexit has meant the UK is losing its importance as the financial center of the region. The Investment bank to move 140 employees to Paris as part of its European-wide Brexit strategy and aims to have 800 staff in the office by the end of 2022. The ones who have moved to the new premises come from 32 nationalities and work mainly in sales and trading roles.
France’s President Emmanuel Macron inaugurated the building. CEO Jamie Dimon, JP Morgan informed Paris has become the bank’s main trading center in the European Union.
“All European trading, which is stocks, bonds, and derivatives will be going through here” – CEO Jamie Dimon, JP Morgan
He further added that the new premises consist of six trading floors and will see between $300B – $400B in trading volume every day.
JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking. To learn more about JPMorgan Chase & Co. (JPM) and to continue to track its progress please visit the Vista Partners JPMorgan Chase & Co. Coverage Page.
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