JP Morgan chairman and chief executive Jamie Dimon has urged UK chancellor Philip Hammond to encourage a multi-year transition period for the UK's departure from the EU, to prevent "cliff-edge" disruption to markets.
According to Sky News, Dimon (pictured) told Hammond that a long Brexit is essential for major international banks when the two met in Downing Street yesterday. Prior to June's Brexit vote, Dimon warned that Brexit could force JP Morgan to move up to 4,000 jobs out of the UK. The warning is the latest of many to senior ministers ahead of triggering Article 50 by the end of March, which will start a two-year process for the UK's departure from the EU. JP Morgan was a significant donator to Britain Stronger in Europe, providing the pro-EU group with £500,000. Wall Street banks includ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
