Accountants, Taxation & Business Advisors

JPMorgan Chase plans to move hundreds of bankers to Dublin

“In one of the most high profile Brexit planning announcements to date, the US banking giant, JPMorgan Chase & Co are set to move hundreds of London based bankers to Dublin, Frankfurt and Luxembourg. With Brexit negotiations due to be completed by Spring 2019, multinationals are starting to put plans in place to deal with the fallout. An influx of jobs would benefit the Irish economy, but could also put pressures on areas such as housing, where rent prices continue to increase in the capital.

It will be interesting to see over the coming months how many more follow suit and how successful Ireland will be at attracting UK businesses that require an EU presence. Typically, the bigger the operation, the more forward planning is required. However with seemingly limited options available to negotiators the impact should be widespread. All businesses affected should start to devote time to the issue to ensure they’re not the last to react and that they don’t concede a competitive advantage.”

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