JP Morgan, the largest US American bank is relocating its seat for European Investment Banking to Frankfurt.
According to an internal communiqué by JP Morgan’s Managing Director in Germany, Dorothee Blessing, the bank is acquiring further office space at the Taunus Tower in Frankfurt’s banking centre. The latter for employees who will move in from London after Brexit. Hitherto about 450 employees work at JP Morgan in Frankfurt.
JP Morgan has banking licences in the UK, Dublin, Frankfurt, Luxembourg, Madrid and Paris. All continental offices are due to be expanded yet Franfurt will be the centre for investment banking within the EU.
Goldman Sachs, Morgan Stanley and Citigroup are likewise bringing more staff to the financial centre Frankfurt. Goldman Sachs has purchased the top floors of the Marienturm wherein more than 700 employees can be housed. Morgan Stanley can also doubled its personnel at the Omniturm, and Citigroup is likely to attract further 200 from 500 employees to its Frankfurt office.
