Spanish investment bank considering move to London post-Brexit

LAST UPDATED: 8 Jan, 2018 @ 13:29
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A SPANISH bank is considering moving to its headquarters from Madrid to London post-Brexit as it believes the UK capital will remain the centre of European business.

Alantra Partners SA investment bank, which oversees €3.7 billion of assets and employs 350 people across 21 countries, is considering how many workers to send to London, according to two people close to the matter.

A spokeswoman has declined to comment.

The move would be unique given the trend of financial services planning to move staff from London to Europe over fears Brexit will see the UK lose passporting rights that allow for goods and services to be traded freely throughout the union.

Goldman Sachs, Deutsche Bank and Bank of America are all said to be bracing for a move to the continent in case the UK leaves the EU without a trade deal.

 

Brexit could cause as many as 75,000 banking and insurance job losses, largely in London, if there’s no deal, Sam Woods, chief executive officer of the Bank of England’s Prudential Regulation Authority, said late last year.

 

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