US banks shifting some London staff ahead of Brexit deadline

With two months until Brexit takes effect, US banks have begun transferring some London staff to Continental Europe and drawing up contingency plans in case of a "hard" Brexit. Around 400 Bank of America employees are set to transfer to Paris and Frankfurt starting in February, according to a person familiar with the matter. About half of this group -- or 200 people -- will be in place before the March 29 Brexit deadline, with the remainder following soon after.

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