JPM to shift up to 1000 jobs abroad
https://www.wsj.com/articles/j-p-morgan-to-shift-…
With confirmed plans to relocate 500-1000 jobs abroad to places such as Frankfurt, Dublin and Luxembourg and other areas in the EU, does anyone have any idea as to which divisions would be moving?
If it's Dublin or Luxembourg, it's almost guaranteed back/middle office (tax, legal, compliance, etc.). Potentially some asset/wealth management to Luxembourg too. Front office roles will remain in London, with what most expect to be a slight shift to Frankfurt.
I may be wrong on this but I think that all banks based in London have always had front office deal teams spread out across mainland Europe in addition to the staff that sits in London. These roles that are moving will majority back office.
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