JP Morgan CEO Jamie Dimon has warned that it may axe up to 4,000 banking jobs in the UK if Britain chooses to leave the European Union.
Speaking to employees in Bournemouth, Dimon said Brexit would result in long-term uncertainty for the UK and EU economies, and would compel the bank to review its business model in the country.
Go deeper with GlobalData
"After a Brexit we cannot do it all here and we will have to start planning for that," said Dimon. "I don’t know if it means a 1,000 jobs, 2,000 jobs, it could be many as 4,000, and they will be jobs all around the UK."
"Brexit will result in years of uncertainty and I believe that this uncertainty will hurt the economies of both Britain and the European Union. If the UK leaves the EU, we may have no choice but to re-organise our business model here."
The US banking giant currently operates in the UK from Basingstoke, Edinburgh, Glasgow and Swindon, and London that serves as its European headquarters. The bank employs 16,000 staff in the UK.
The remarks come ahead of the UK’s vote on the Brexit issue that is scheduled to take place on 23 June 2016.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
