EU Affairs

48 financial firms to move to Germany due to Brexit

cde.news desk 8 March 2019, 07:00 · 1 min read

epa05966228 A general view to bank buildings with on the background the Messeturm (Fairground Tower) in Frankfurt am Main, Germany, 15 May 2017. Reports state Frankfurt may be one of the cities to benefit from Brexit, and financial jobs possibly being moved from London. One of the reasons for finance sector jobs being moved from London is the likely loss of 'passporting' rights that has helped financial institutions to operate across European Union while still being located in London. EPA/THORSTEN WAGNER

German regulators have received 48 applications in recent months from financial firms seeking to relocate to Germany in the wake of Britain’s decision to leave the European Union.

Reuters in a report quoted Elisabeth Roegele, an executive director with Germany’s Bafin financial markets watchdog, said that more applications could still come.

“There are still companies that are only now dealing with the issue,” she added.

In the past few weeks, several Japanese companies were or indicated that they might be moving out of Britain due to the uncertainty regarding Brexit.

Via Reuters

Filed under Brexit EU Affairs Euro Zone Europe Explained

Topics BAFIN Brex Financial Services Germany UK

48 financial firms to move to Germany due to Brexit

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