JPMorgan is considering moving 1,000 jobs in London

The European Central Bank is urging US banks to hire more staff in the European Union.

Big Bank of the United States JP Morgan Chase & Co plans to move 1,000 back office employees from London to Paris or Frankfurt. This was reported by Les Echos. The bank is still hesitant between the French capital – a major trading center on the continent – or the headquarters of the European Central Bank, the newspaper wrote, without citing the source of the information.

The European Central Bank Urging US banks to hire more staff European Union to settle, according to people familiar with the matter. JPMorgan’s Paris office has expanded significantly since the UK left the European Union and is expected to have 800 employees by the end of the year, up from 250 before the vote. In London, the bank has about 12,000 employees.

Nearly six years after the United Kingdom voted to leave the European Union, banks are still at odds with regulators over their business structure in the region. In general, fewer jobs were moved than expected: many investment banks rely on London’s high level of liquidity and a good supply of bankers.

A JPMorgan spokesman did not immediately respond to a request for comment.

(Bloomberg)