JPMorgan to buy building in Paris to relocate teams from London

U.S. bank JPMorgan Chase & Co said it plans to buy a building in central Paris to house up to 450 staff in coming years, as it relocates some services from London after Britain's exit from the European Union. The expansion is expected to make the French capital where it currently has 260 staff, its second-largest base in Europe behind London, which has 10,000 staff, JPMorgan said. The bank will initially transfer sales teams, followed by trading staff depending on the timing of Britain's full withdrawal from the European Union, Kyril Courboin, JPMorgan's CEO France, told.