Morgan Stanley has become the latest global bank to pick Frankfurt for its new trading headquarters inside the European Union after Brexit, according to people briefed on the decision.
The firm plans to relocate some of its European broker-dealer business to the German city from London, while moving parts of its asset management operations to Dublin, said one person, who asked not to be identified because the matter is private. About 300 jobs will transfer to various cities across Europe, including Paris, with around 200 going to Frankfurt, the person said.
Frankfurt has emerged as the biggest winner in the fight for thousands of London-based jobs that will have to shift to new hubs inside the EU in preparation for Britain’s exit from the trading bloc in 2019. [...]
Morgan Stanley’s move to Frankfurt is provisional and depends on Britain’s future trade relationship with the EU, one of the people said.
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