Brexit could mean 'fewer' UK jobs with the bank, says JPMorgan chief

London

THE head of US bank JPMorgan Chase told British staff on Friday a decision by Britain to leave the European Union (EU) could mean "fewer" jobs with the bank there and more jobs in Europe.

"A vote to leave would be a terrible deal for the British economy," chief executive Jamie Dimon said, speaking alongside Finance Minister George Osborne in Bournemouth, where the bank employs 4,000 out of 16,000 staff based in Britain. "So if the UK leaves the EU, we may have no choice but to reorganise our business model here. Brexit could mean fewer JPMorgan jobs in the UK and more jobs in Europe."