NEW EUROPEAN HUBS
Banks getting ready to launch Brexit exodus of jobs
Frankfurt and Dublin are emerging as the biggest winners from the relocation plans
The largest global banks in London plan to move about 9,000 jobs to the continent in the next two years, public statements and information from sources show, as the exodus of finance jobs starts to take shape. Last week, Standard Chartered and JPMorgan Chase were the latest global banks to outline plans for their European operations after Brexit. They are among a growing number of lenders planning to move operations from London. Goldman Sachs CE Lloyd Blankfein said on Friday London’s growth as a financial centre could "stall" due to the upheaval caused by Brexit. So far, 13 major banks including Goldman Sachs, UBS, and Citigroup have given an indication of how they would bulk up their operations in Europe to secure market access to the EU’s single market when Britain leaves the bloc. Talks with financial authorities in Europe have been under way for several months, but banks are increasingly firming up plans to move over staff and operations. "It’s full speed ahead. We are in full ...
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