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HomeAll ArticlesBarclays to make Dublin its EU headquarters after Brexit - source

Barclays to make Dublin its EU headquarters after Brexit – source

LONDON Barclays (BARC.L) is preparing to make Dublin its EU headquarters for when Britain leaves the European Union, according to a source familiar with the matter on Thursday.

Global banks and insurers have begun signalling how they will put plans into action to cope with a “hard” exit from the European Union, after Prime Minister Theresa May said that Britain would leave the single market.

Barclays already has a small unit in Dublin with around 100 people.

“We have made clear repeatedly that we will plan for a range of Brexit contingencies, including building greater capacity into our existing operations in Dublin,” a spokesman for Barclays in London told Reuters.

“Identifying available office space is a necessary and predictable part of that contingency planning process.”

Bloomberg News reported that Barclays would add around 150 staff to its operations in the Irish capital.

(Reporting By Anjuli Davies; Editing by Rachel Armstrong)

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