The move is in line with efforts by several other U.S. banks such as JPMorgan Chase & Co. and Goldman Sachs Group Inc. to beef up their EU operations amid Brexit. Non-German lenders are moving 400 billion euros of assets to the country by year-end, more than doubling their combined balance sheet there, the Bundesbank has said. The shifts, which for JPMorgan included 200 billion euros in assets and 200 staff, are just the “first wave,” Dorothee Blessing, the co-head of the firm’s European investment banking unit, said in September.

Source link

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *