business

Morgan Stanley Said to Relocate 80 Jobs to Paris After Brexit

  • Bank will add jobs in various EU cities, with hub in Frankfurt
  • About 300 roles in total will be moved out of London

Photographer: Christophe Morin/Bloomberg

Morgan Stanley plans to relocate as many as 80 U.K.-based roles to Paris in the years after Brexit, according to a person with knowledge of the bank’s contingency arrangements.

The U.S. banking group will move some operations from London to Frankfurt, which will serve as its main hub in the European Union, while also boosting its offices in Paris and Dublin, said the person, who asked not to be identified because the plans are private.

Morgan Stanley intends to move some of its European broker-dealer business to Germany’s financial capital and parts of its asset management operations to Dublin, a person with knowledge of the decision said in July. About 300 jobs will transfer to various cities across Europe, with around 200 going to Frankfurt, that person said.

French newspaper Les Echos reported the Paris moves earlier on Thursday.

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