08 July 2016 at 2:50 GMT
Four of the biggest US banks have committed to helping maintain London's position as a global financial hub after the UK leaves the European Union. Since the referendum vote there have been concerns that banks would reduce their staff and offices in the country. In a statement the banks and Chancellor George Osborne said they would work to ensure London "retains its position". However, they did not say whether this meant that they would keep the same number of jobs and offices in the UK. JP Morgan had said that it could move 4,000 jobs out of the UK if the country voted to leave the EU. The banks signing the statement included JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley, as well as the UK's Standard Chartered, which makes most of its profit in Asia. "Today we met and agreed that we would work together to build on all this with a common aim to help London retain its position as the leading international financial centre," the statement said.
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