Brexit jitters: JPMorgan Chase to move $230-billion assets to Germany

JPMorgan Chase is moving about ^200 billion ($230 billion) from the UK to Frankfurt as a result of Britain’s exit from the European Union (EU), a shift that will make it one of the largest banks in Germany.
 
The US bank plans to finish the migration of the assets to its Frankfurt-based subsidiary by the end of the year, people familiar with the matter said. The change could boost its balance sheet enough to become the country’s sixth-largest bank, based on the assets of the biggest commercial lenders last year.
 
A spokeswoman for JPMorgan in Frankfurt declined to