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London — Barclays has begun shifting 40 to 50 investment banking jobs from Britain to Frankfurt as part of its plans to continue doing business in the EU after Britain leaves the bloc in 2019, a source told Reuters. The roles will technically be employed by the bank’s main European entity in Ireland, the source said, and form part of the 150,200 jobs the British bank is transferring to that unit as it implements its Brexit plans. Banks are pressing ahead shifting jobs to Europe, preparing for a worst case scenario where Britain fails to secure a Brexit deal with the EU that would allow them to continue serving Europe from London.

A spokesman for Barclays declined to comment. About 5,000 finance jobs will move out of Britain or be created overseas by March 2019 due to Brexit, firms employing the bulk of UK-based workers in international finance told Reuters earlier in 2018. Britain and the EU have secured a "standstill" transition deal lasting from the day of Brexit to the end ...

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