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Barclays will move between 40 and 50 investment banking jobs from London to Frankfurt as it prepares for Britain's exit from the EU.
Previously, the bank, which employs 48,700 people in the UK, said it was going to expand its operations in Dublin from 150 to 200 jobs, making Ireland its base for continuing its exchanges within the EU.
But it appeared that some of these jobs will be based in Frankfurt, although technically individuals would be employed by the Irish unit, according to a Reuters report. Most should be hired locally rather than physically displaced from London.
It is understood that the badigned roles are in the euro trading team of the bank. This change will allow Barclays to continue trading in euros with European customers, even if the UK leaves the EU in March 2019 without a commercial agreement or transition agreement. Barclays President Jes Staley said last year that he saw no reason to transfer many British jobs to Europe following Brexit and described the necessary restructuring leaving the company behind. EU as simple as the other challenges facing the bank.
A spokesman for Barclays declined to comment.
There has been intense speculation about the number of jobs that will be lost in the financial industry, which currently employs 1.1 million people in the UK, following Brexit.
Initial forecasts were about 10,000 job losses, but in March, a Reuters poll of 119 finance companies revealed that the eventual reduction could be half that number. He found that Paris had dismissed Frankfurt and Dublin as the most popular destination.
Goldman Sachs chose to divide its European activities between Frankfurt and Paris. JP Morgan has purchased a reference office building in Dublin to accommodate 1,000 employees, double the number of employees it currently employs in the city, while HSBC has announced that it plans to create 1,000 jobs in Paris.
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