Brexit: finance companies move from London to Dublin
Dublin has become the key destination for post-Brexit relocations.
(illustrative image) REUTERS / Clodagh Kilcoyne
Text by: RFI Follow
2 min
London presents its first post-Brexit budget this Wednesday.
A particularly scrutinized plan, between pandemic and the effects of leaving the EU ... Among these consequences, the loss of attractiveness of the British capital for financial companies: nearly half of them have relocated.
For the benefit of its neighbor Dublin.
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With our correspondent in Dublin
,
Emeline Vin
Brokerage, banks, wealth management: among the financial companies that have left London since the 2016 referendum, 36, or a third of them have moved to Dublin.
This is more than Luxembourg, Paris or even Frankfurt, headquarters of the European Central Bank, according to the audit firm EY, which regularly surveys some 200 companies in the sector.
Barclays, Bank of America and Revolut are among the big names who have moved all or part of their jobs to Ireland.
Not yet established as a “hub” for international stock exchanges, Ireland's first city intends to become a center of fintech, the technology of finance.
The only English-speaking, multicultural capital of the EU, Dublin relies on its status as the European heart of tech: Google, Facebook, Twitter have already had their headquarters there for more than ten years.
The last of the GAFAs, Amazon, has just established itself, creating a network of 8,000 jobs.
There again to bypass the administrative hassles linked to Brexit.
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