Standard Chartered is looking for a new European headquarter after the U.K. decided to leave the European Union.
Standard Chartered has approached Irish officials about setting up a subsidiary in the city and getting a license to operate across the EU, two of the people told «Bloomberg», who asked not to be identified.
No final decision has been taken about the possible move though, the U.S.-based news provider reported. One of the sources added that Standard Chartered also was in talks with Germany’s regulator about moving its legal headquarter to Frankfurt.
Several Options
In the months since the U.K. voted to leave the EU, banks have gone from threatening to move jobs abroad to picking likely destinations and consulting local authorities. Global banks are worried about losing easy access to the bloc from the U.K. and want to have new or expanded offices up and running within the EU before the end of Brexit negotiations, expected in March 2019.
UBS for instance last week decided to install the European wealth management business in Frankfurt. J.P. Morgan and Morgan Stanley are others to mull plans moving operations out of London.
No Decisions Has Been Taken
Standard Chartered commented the report by saying that no decision has been taken yet, adding that it was evaluating different scenarios and preparing for the time of the exit of the U.K.
