Brexit: JPMorgan Chase mulls plans for Dublin move

JPMorgan Chase is in talks to buy a Dublin office building as it considers expanding in Ireland after the UK’s vote to leave the EU, sources said.

The lender is negotiating the potential purchase of a building in Dublin’s Capital Dock that is being developed by a venture between Kennedy Wilson Holdings and Nama, the sources said.

The building, at 200 Capital Dock, has about 130,000sq ft (12,000sq m) of space, they added. That is enough for more than 1,000 workers. The company already employs about 500 in Ireland.

“Other options are still very much on the table. We want to see how negotiations progress,” JPMorgan said in a statement. “No final decisions have been made.”

JPMorgan Chase is in talks to buy a Dublin office building as it considers expanding in Ireland after the UK’s vote to leave the EU, sources said.

The lender is negotiating the potential purchase of a building in Dublin’s Capital Dock that is being developed by a venture between Kennedy Wilson Holdings and Nama, the sources said.

The building, at 200 Capital Dock, has about 130,000sq ft (12,000sq m) of space, they added. That is enough for more than 1,000 workers. The company already employs about 500 in Ireland.

“Other options are still very much on the table. We want to see how negotiations progress,” JPMorgan said in a statement. “No final decisions have been made.”

British prime Minister Theresa May’s plan to pull Britain out of the European single market has prompted international banks to begin looking to move jobs to other EU countries. Estimates for the number who could move range from 4,000 to more than 200,000.

“There will inevitably be some staff who will be asked to consider relocation,” Daniel Pinto, JPMorgan’s investment bank head, and Mary Callahan Erdoes, chief executive of asset management, said in a memo to staff seen by Bloomberg.

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