Bank Of America will be moving their EU HQ to Dublin post Brexit.
Dublin will be just one of the European cities that the Wall Street giant will be moving the business to in light of the Brexit action.
Bank of America’s CEO Brian Moynihan told Financial Times (via RTE) on Friday that the new HQ will be adding to the 700 jobs that the bank already employs here, between their city centre and Leopardstown offices already in the city.
Moynihan stated that “Dublin is the home to more of our employees than any other European city outside the UK.”
Big news. Ireland, not the UK (as Brexiteers suggest) much more likely to be Europe's Singapore. What you think? https://t.co/cB5Pldhtkj
— David McWilliams (@davidmcw) July 22, 2017
“We already have a fully licensed and operational Irish domiciled bank which combined with Ireland’s strong commitment to business and economic growth makes Dublin the natural location to consolidate our legal entities as we transition.”
From the back of this news, there has already been major speculation that the move will result in potentially hundreds of new jobs for the bank.
This is in addition to the likes of Citibank, Barclays and Morgan Stanley, who have all announced this week that they plan to expand upon their Irish operations post-Brexit.