Dorset should expect job losses in the financial sector due to Brexit, anticipates senior academic.
Professor Jens Holscher, head of department in accounting, finance and economics at Bournemouth University said he has not heard anything as of yet but he is sure bank offices will move, taking jobs with them.
PM Theresa May says there is no possibility the UK can stay in the European single market and financial institutions hoped there would be passporting arrangements which would allow trade across Europe.
Bournemouth benefits greatly from financial services jobs, employing 8,600 people with 4,000 employees at leading global bank JP Morgan. Perviously, Business Secretary Greg Clark named it as one of the areas that benefit most from these type of jobs on BBC Radio 4’s Today programme.
Professor Holscher said free movement of money would be restricted and even if a small group go, that would have a big impact on the local economy.
Chairman Jamie Dimon visited last year on behalf of the remain campaign with previous Chancellor George Osborne, warning jobs would leave Britain if the country left the EU.