London Traders Rebelling Against EU Moves Pose Staffing Dilemma
- Group of London-based JPMorgan traders quit rather than move
- Other banks face similar issues as they try to move staff
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When JPMorgan Chase & Co. asked a team of about 15 London-based equity derivatives traders to move to Paris, it didn’t go down well. Almost half of them chose to quit, several to avoid relocating.
Other global investment banks have faced similar issues. Goldman Sachs Group Inc. and Nomura Holdings Inc. have had a hard time convincing some traders to leave London, people familiar with the matter said, asking not to be identified discussing private matters.