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Morgan Stanley denies staff moves following Brexit

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Morgan Stanley denies staff moves following Brexit

Morgan Stanley has denied reports that it started the process of moving around 2000 staff from London.

The BBC said earlier that the bank was already in the process of relocating staff but Morgan Stanley has said the news is false.  

It was reported that the investment bank would be moving the staff to either Dublin or Frankfurt, including those in investment banking as well as senior management.

It also reported that the bank already has a taskforce in place to deal with the fallout from the Brexit vote. 

Last week, Bloomberg reported that the bank, which has 5,000 staff in London, could relocate 1,000 employees out of the UK. 

Morgan Stanley president Colm Kelleher had said 'this will be the most consequential thing postwar that we've ever seen,' in an interview.  

Several investment banks have warned in the run-up to the referendum that they would look to relocate staff if the UK voted to leave the European Union. 

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