Standard Chartered is considering making Dublin its legal base inside the European Union after Britain begins the formal process of withdrawing from the bloc, according to several media reports.
Standard Chartered has approached Irish officials about setting up a subsidiary in the city and getting a license to operate across the EU, said two of the people, who asked not to be identified because the discussions are private. No final decision has been taken, news agency «Bloomberg» writes, and one person said Standard Chartered is also in talks with Germany’s regulator about alternatively choosing Frankfurt.
In the months since the U.K. vote to leave the EU, banks have gone from threatening to move jobs abroad to picking likely destinations and consulting local authorities. Global banks are worried about losing easy access to the bloc from the U.K. and want to have new or expanded offices up and running within the EU before the end of Brexit negotiations, expected in March 2019.
