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HSBC, JPMorgan may move parts of businesses to Luxembourg: report
Move from the UK is being considered by these banks as they weigh the possibility of a British exit from the EU, adds The Times
Add BT as a preferred sourcePublished Tue, Jun 16, 2015 · 09:50 PM
London
HSBC Holdings plc and JPMorgan Chase & Co are in talks to relocate parts of their businesses to Luxembourg from the UK as they weigh the possibility of a British exit from the European Union (EU), The Times reported.
JPMorgan is close to setting up a bank based in Luxembourg to handle the clearing of eurozone transactions, paving the way for the US bank to transfer more of its business out of the UK in the event of a British exit (or a "Brexit"), The Times reported.
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