J.P. Morgan chief executive Jamie Dimon has warned the US banking giant may have to cut as many as 4,000 jobs in the UK if Britain votes to leave the European Union (EU) in this month's referendum.
Dimon (pictured), president and chief executive of the US bank, said leaving the EU would be a "terrible deal" for the UK economy, the BBC reports. He spoke alongside Chancellor George Osborne at J.P. Morgan's Bournemouth office, which houses about 4,000 staff. The BBC quotes him saying: "After a Brexit we cannot do it all here and we will have to start planning for that. I don't know if it means 1,000 jobs, 2,000 jobs - it could be as many as 4,000, and they will be jobs all around the UK. "If the EU says anybody who does business as a bank with an EU company has to be based in th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
