Barclays moves jobs to Frankfurt
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 familiar with the matter has told Reuters. The staff will technically be employed by the bank's main European entity in Ireland, the source said.
The roles are among 150 to 200 jobs that the British bank is transferring to that unit as it implements its Brexit plans.
Banks are pressing ahead with shifting jobs to Europe, in preparation for a 'worst case' scenario where Britain fails to secure a Brexit deal that would allow banks to continue serving Europe from London.
Barclays declined to comment. (Reuters)