Morgan Stanley has been accused of making up a fake job title for one of its employees in an attempt to trick EU regulators into believing it had moved top execs to Europe to meet post-Brexit rules.

Investment banks are shifting more rainmakers out of London to financial centres across the European Union, accelerating the pace of moves after the pandemic and uncertainty over Britain’s access to the bloc slowed relocations.

Morgan Stanley Chief Executive Officer James Gorman said the bank expects to move 400 to 500 jobs out of the U.K as the nation breaks from the European Union. / “It’s net negative, there’s nothing particularly good about Brexit.”