Head of Investment Banking at JP Morgan, Daniel Pinto, has announced the bank is planning to relocate ‘hundreds of people’ to offices in Dublin, Frankfurt and Luxembourg. Pinto has said, “We have to plan for a scenario where there is no UK-EU passporting deal“, the loss of passporting rights seem likely with PM Theresa May’s ‘Hard Brexit’ plan. Without a solution to these passporting issues London will lose many jobs and may no longer be the European financial epicenter. There are circa 5,500 companies registered in the UK who depend on EU Passporting rights in the financial services sector. These firms and their revenues which stand at around £9bn, would all be lost. Showing us the real importance for Theresa May to secure the right Brexit deal . Only time will tell the fate of the UK. #SpartanInternational