Credit Suisse to Move Bankers to Spain in Brexit: Report
- Bank to transfer many European investment banking operations
- Swiss lender has applied for a Spanish banking licence
The U.K. headquarters of Credit Suisse Group AG in Canary Wharf, London.
Photographer: Chris Ratcliffe/Bloomberg
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Credit Suisse Group AG will move many European investment banking operations to Spain as part of its Brexit planning, the Swiss bank’s head of investment banking in Spain and Portugal, Wenceslao Bunge, said in an interview with Expansion.
The lender requested a Spanish banking license last month that will allow it to create a European hub for investment banking activities in the country, Bunge told the newspaper. He said he expects the Madrid-based investment banking operations will be fully operational around mid-2021.