3rd Jul 2018 11:48
LONDON (Alliance News) - Barclays PLC prepares for Brexit as it plans to shift between 40 and 50 investment banking jobs from the UK to Ireland and Germany, the Guardian reported on Monday afternoon.
The newspaper said the FTSE 100-listed bank plans to expand its operations in Dublin by adding between 150 and 200 jobs and making Ireland its base for trading within the European Union.
Some opportunities will also emerge in Frankfurt, Germany. The Guardian said most of the employees are expected to be hired locally rather than physically moved from the UK, where Barclays currently employs 48,700 people.
The shift will allow the bank to continue trading in euros with European clients even if the UK leaves the EU in March next year with no trade deal or transition agreement, the newspaper noted.
Shares in Barclays were trading 0.6% higher on Tuesday at 186.58 pence each.
https://www.theguardian.com/business/2018/jul/02/barclays-to-move-uk-jobs-to-frankfurt-ahead-of-brexit
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