BOURNEMOUTH’S biggest private employer, JP Morgan, has said it will “not rush into any decisions” about its future in the UK – despite reports that it is buying a building in Dublin.

The global bank is understood to be in talks about buying a building at Capital Dock, with enough space for more than 1,000 workers.

But a memo to staff plays down concerns that it is preparing for large scale transfer of jobs from its UK bases in London, Bournemouth and Glasgow.

During last year’s referendum campaign, JP Morgan chief executive Jamie Dimon warned that up to 4,000 UK jobs could go at the bank in the event of Brexit. He visited the Bournemouth site with then-chancellor George Osborne to urge a “remain” vote.

The new memo from Mary Erdoes, head of asset and wealth management, and Daniel Pinto, head of corporate and investment bank, says the company has several options.

“JP Morgan is fortunate to have options across the EU that will allow us to continue to support our clients in any event. Our size, scale and existing footprint across the continent mean that we have choices in terms of locations and legal entity structure,” it says.

“We may need to make adjustments to our legal structure, but we will maintain our strong commitment to our clients in the UK and the EU.”

The future of Britain’s trade in financial services will depend on what arrangements replace the current “passporting” system, which allows free trade across Europe in the sector.

The memo adds: “Our firm is well-placed today to be ready to serve clients even if the UK loses its ability to passport services into the EU. We have spent the last several months reviewing the many variables in this process - client needs, employee considerations, regulatory requirements, operational risks, our inventory of licenses, political issues in the region and dozens of other factors. This is a complex process and we will not rush into any decisions. ”

Theresa May triggered the process of leaving the EU in letter to European Council president Donald Tusk on Wednesday. She mentioned the need for a free trade agreement which “covers sectors crucial to our linked economies such as financial services and network industries”.

City bosses have called on the government to prioritise a stopgap deal early on to prevent companies moving away to rival financial centres.