JP Morgan might relocate some jobs following referendum result, reports say

A disgruntled worker at JP Morgan told friends the lender's chief executive officer had informed them that over the next few months they will make changes to the European legal entity and relocate jobs.

"Time to start looking for a new job," she added.

CNBC reported part of a letter sent to employees on Friday which read ""We may need to make changes to our European legal entity structure and the location of some roles."

In parallel, the BBC reported that Morgan Stanley had already begun the process of transferring 2,000 London-based investment banking staff to Dublin or Frankfurt.