Jan 30, 2019

Barclays shifts billions of pounds to Dublin because of Brexit

Barclays is moving €190bn of assets to Dublin because it "Cannot wait any longer" to implement its Brexit contingency plan. The bank's Dublin operation is expected to double in size to 300 people as a result of the business being channelled though the Irish capital. Barclays in talks to expand Dublin office post-Brexit. "As we announced in 2017, Barclays will use our existing licensed EU-based bank subsidiary to continue to serve our clients within the EU beyond 29 March 2019, regardless of the outcome of Brexit," the bank said. The bank had to ask the High Court for approval to transfer the business which took place in branches in Germany, France, Spain, Italy, the Netherlands, Portugal and Sweden for corporate banking, investment banking and some wealthy private clients.

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