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Barclays shifts billions of pounds to Dublin because of Brexit

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    Barclays shifts billions of pounds to Dublin because of Brexit

    Barclays is moving €190bn (£166bn) of assets to Dublin because it "cannot wait any longer" to implement its Brexit contingency plan.

    The High Court, which has approved the move, says the move involves 5,000 clients. However, few jobs in London are expected to be affected.

    The business amounts to around 15% of the bank's £1.2 trillion in total assets and was previously conducted in the UK through branches across the EU.

    The plans will be in place by 29 March.

    The bank's Dublin operation is expected to double in size to 300 people as a result of the business being channelled though the Irish capital.

    Barclays shifts billions of pounds to Dublin because of Brexit - BBC News

    It's only 5000 clients, so who cares?

    #2
    However, few jobs in London are expected to be affected.
    “The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”

    Comment


      #3
      The bank's Dublin operation is expected to double in size to 300 people
      150 jobs that would have been in the UK. More importantly it shows just how little confidence there is in how a UK outside of the customs union and single market will perform.

      The rats are abondoning the sinking ship.
      England's greatest sailor since Nelson lost the armada.

      Comment


        #4
        Originally posted by Uncle Albert View Post
        150 jobs that would have been in the UK.
        No they wouldn't.

        “The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”

        Comment


          #5
          Originally posted by Lord Haw-Haw View Post
          No they wouldn't.

          Comment


            #6
            Originally posted by shaunbhoy View Post
            That's the spirit Who needs that capital in our economy? We'd only waste it
            I am what I drink, and I'm a bitter man

            Comment


              #7
              Originally posted by shaunbhoy View Post
              No they wouldn't.

              Well, as those jobs are only being created in Ireland to cope with the extra work that has been shifted to Ireland from the UK, it's fairly safe to assume that a similar number of people were doing that work here. Barclays are not a charity and won't carry on employing people in jobs that no longer exist.

              Think about it for a moment. You might work it out.
              England's greatest sailor since Nelson lost the armada.

              Comment


                #8
                Tax base is moving - asset managers would make 0.5-1% per annum, that billions in tax leaving

                Comment


                  #9
                  Originally posted by Uncle Albert View Post
                  it's fairly safe to assume that a similar number of people were doing that work here.

                  Barclays are not a charity and won't carry on employing people in jobs that no longer exist.
                  few jobs in London are expected to be affected.
                  Whaddya know? Maybe Barclays ARE a charity after all? The only other explanation is that you are talking out of your arse again.


                  Originally posted by Uncle Albert View Post
                  The bank's Dublin operation is expected to double in size to 300 people as a result of the business being channelled though the Irish capital
                  The important bit is in bold. These are new jobs.


                  Originally posted by Uncle Albert View Post
                  Think about it for a moment. You might work it out.
                  I've thought about it. Barclays are NOT in fact a charity. You really ARE as stupid as your comments suggest.

                  “The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”

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                    #10
                    So that means Brexit is bad for business, thanks Sarg

                    Comment

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