Barclays Bank Spends Millions on Moving Operations to Frankfurt & Dublin

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Chairman of the UK branch of Barclays bank has released its numbers for expenditure that the lender has spent so far on dealing with potential repercussions from Brexit. The figures released showed damage control operation costings within the GDP £100 – 200 million range for transferring operations and employees out of the UK in preparation for Brexit.

The costs involved are associated with moving its European headquarters and almost EUR €200 billion in property and assets to Dublin that started last year, shifting 50-80 investment bankers’ positions from London to Frankfurt, according to banking bosses.