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JPMorgan To Shift $230B Assets Ahead Of Brexit

By John F. Heerdink, Jr.

As per the Bloomberg report, JPMorgan Chase & Co (JPM) intends to shift 200B euros (US $233.76 B) from the UK to Germany ahead of Britain’s exit from the European Union. The bank plans to migrate the assets to its Frankfurt-based subsidiary by the end of 2020.

The bank has also announced to expand its Paris hub as part of plans to relocate some services from London after Brexit. Banks working with Britain as a gateway to the European Union are expected to fully execute their plans for serving EU customers before the Brexit transition period ends in December.

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.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: JPMorgan to move $230 bln assets to Germany ahead of Brexit - Bloomberg News in Reuters)


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