LONDON, April 5 The head of U.S. bank JPMorgan
Chase said on Tuesday the bank is not planning to move
many jobs out of Britain in the next two years in a softening of
tone on the likely impact from Brexit.
Jamie Dimon had said in a previous speech to employees in
Bournemouth last year that as many as 4,000 of the bank's 16,000
jobs based in Britain may have to move.
Even though his stance appears to have moderated Dimon said
on Tuesday the bank is preparing for a so-called "hard Brexit"
in which Britain loses access to EU's single market, disrupting
access to its main trading partner.
"This does not entail moving many people in the next two
years," he said in a letter to the US bank's shareholders.
Dimon also said the likelihood that the EU could break up
has increased, which he warned could have a "devastating"
economic and political impact.
He said that he hoped that Britain's decision to leave the
EU would have force the bloc to focus on "fixing its issues,"
such as immigration, bureaucracy and rigid labour rules.
"Our fear, however, is that it could instead result in
political unrest that would force the EU to split apart," he
said. "We will keep a close eye on the situation in Europe over
the next several years."
(Reporting By Andrew MacAskill, Editing by Lawrence White)