Bloomberg News reports that the bank is relocating bankers at its Global Markets trading division and dealmakers from its advisory unit, the people said, asking not to be identified because the decision is private. The firm hasn’t yet made a decision on its post-Brexit trading hub, the people said. Credit Suisse is planning 250 relocations because of Brexit, with some of those people set to move to Madrid, people with knowledge of the matter had said earlier this year.
International banks with European headquarters in London are scrambling to have new trading hubs inside the bloc up and running in time for Brexit. EU regulators have made it clear they expect banks to establish full-scale, standalone operations within the 27 remaining member states as soon as possible.
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