31/01/17

Dublin, Frankfurt and New York Emerging as Brexit Winners.

(Irish Times)-- Dublin, Frankfurt and New York are emerging as the beneficiaries of US banks’ retreat from the UK following Brexit.

Standard Chartered and Barclays are eyeing up Irish operations, while the German financial capital is set to welcome staff from Goldman Sachs, Citigroup and Lloyds, Bloomberg reports in a summary of planned bank moves.

Morgan Stanley has said it is likely to allocate staff away from Europe altogether, with New York being the main beneficiary.

In total 35,000 jobs from the City could be moved as banks prepare for no access to the EU once the UK leaves the single market.

Germany is set to benefit from having one of the only regulators experienced overseeing complicated derivatives trading.