Leading banks moving London positions

Cavid Əzimov
Author

Baku. 22 July. REPORT.AZ/ The world's one more leading bank moving EU hub in London.

Report informs citing vestifinance.ru, Bank of America (BofA) has picked Dublin to locate its main European Union hub. The bank's Investment Banking Department will relocate in Dublin. Brian Moynihan, chief executive of Bank of America, reported. Bank of America has 4,500 employees in London office and 700 in Dublin. Its CEO, Brian Moynihan, wouldn't say how the move would affect those figures.

Notably, in the past week, US bank Morgan Stanley has publicized its intention to pick Frankfurt for relocation. According to Bloomberg, broker-dealer operations is planned to be moved in the first stage.

Accountants at Ernst & Young said 59 out of the 222 biggest financial services companies in the UK have made public statements about moving staff from Britain to the EU. 

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