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BofA Likely to Choose Dublin for Main EU Base After Brexit

  • Firm will also move staff to other cities, BofA executive said
  • No final decision taken, Nikolaus Naerger says in Frankfurt
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Hard Brexit, Passporting, and the U.K. Banking Industry

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Bank of America Corp. views Dublin as its default destination for a new hub inside the European Union if Brexit means the U.K. loses easy access to the single market, according to one of the firm’s top executives in Germany.

The bank will likely move some jobs to other cities across the EU, including Frankfurt, Madrid, Luxembourg and Amsterdam, Nikolaus Naerger said at a press briefing hosted by the Association of Foreign Banks in Germany. The firm hasn’t made a final decision on Dublin and could choose a different destination, said Naerger, Bank of America’s head of corporate banking in Germany, Switzerland and Austria.