Banks are making contingency plans in preparation for BREXIT in order to maintain access to the EU market. Reported as follows:-

Barclays is in talks to expand its presence in Dublin.

Citigroup looking to move jobs in its trading section.

Goldman Sachs considering to move staff from London to Frankfurt.

BNP Paribas may move staff.

Deutsche Bank could move jobs to Frankfurt.

J P Morgan Chase looking at Dublin.

Lloyds looking at Berlin.

Even though the number of jobs likely to be placed outside of London appears to be low (at the moment) – it seems a shame to me that these discussions are even taking place. It may just be a contingency process at this stage – but it could easily become reality if we continue to surge forward with the wrong type of BREXIT plan, and that’s if we actually have a coherent plan at all!

The overriding thought is that the majority of banks are making contingency plans that MAY happen – these are not actual plans yet.