Barclays is preparing to make Dublin its headquarters for the European Union when Britain leaves the trading bloc, Reuters reported on Thursday, citing a source familiar with the matter.
The report follows a slew of comments from top UK bank executives relating to how their business structures might change after Brexit.
Speaking at the World Economic Forum in Davos, Switzerland, last week the boss of UBS’ investment bank, Andrea Orcel, said that his bank would definitely have to move some jobs out of the UK, echoing similar remarks made by HSBC’s chief executive Stuart Gulliver.
Also speaking at the conference, Jes Staley, Barclays’ chief executive, defended London’s status as financial hub.
“I don't believe that the financial centre of Europe will leave the city of London,” he told the BBC. “There are all sorts of reasons why I think the UK will continue to be the financial lungs for Europe”.
Reuters on Thursday quoted a spokesman for Barclays in London saying that the banks had “made clear repeatedly that we will plan for a range of Brexit contingencies, including building greater capacity into our existing operations in Dublin."
"Identifying available office space is a necessary and predictable part of that contingency planning process," the spokesman said, according to Reuters.
