Bank of America takes the European operations from London to Dublin after Brexit


Moscow. July 21. INTERFAX.RU Bank of America intends to move its European operations in the Irish capital Dublin from London after the completion of Britain’s withdrawal from the EU.

“While we wait for clarity in relation to negotiations on Brexit, we are ready to provide our customers with uninterrupted service regardless of the outcomes of these negotiations”, – reads the statement of the head of BofA Brian Moynihan, published on the website of the Bank.

It is noted that BofA already has an office in Dublin.

Many of the largest finkompany the world, traditionally located European headquarters in London, prepare for British exit from the EU, after which with high probability will lose the right of access to the European single market.

Most firms choose a location for the new offices in the EU between Dublin and Frankfurt. Frankfurt is a larger financial center, but in Ireland are similar to British laws and a low tax rate on corporate profits, while the country’s official language is English.

Source