Saturday 21 April 2018

Barclays choses Dublin for post-Brexit base in Europe

Stephen Morris and Neil Callanan

Reports from the UK indicate that Barclays has decided Dublin is to be its main hub after Brexit if UK companies lose easy access to the EU, according to Bloomberg sources.

The company is planning to add  150 jobs to the Dublin base.

Barclays has been looking at office space in Dublin this month and has been in contact with the Central Bank about the expansion.

The UK bank is embarking on contingency plans in case Prime Minister Theresa May is unable to negotiate a transition period to preserve London firms' access to the EU while talks about the UK’s exit are ongoing.

“We have made clear repeatedly that we will plan for a range of Brexit contingencies, including building greater capacity into our existing operations in Dublin,” the bank said in a statement. “Identifying available office space is a necessary and predictable part of that contingency planning process,” the bank said in a statement

Bloomberg

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