Barclays, which has been in talks with Irish regulators to expand operations in Dublin following Brexit, could move some staff to its Frankfurt office if euro clearing moves into the euro area, according to the bank’s Germany head.
Bloomberg News reports that the market in Germany “doesn’t immediately call for more front office, more client coverage,” Alexander Doll, chief executive officer of Barclays Germany, said at a press briefing Monday. But if euro clearing was moved to the euro area, “we’ll talk about different figures” in Barclays’ markets unit.
Doll said a decision on the future of euro clearing by regulators and lawmakers is unlikely to happen before next year.
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