Documents filed in the UK show the US banking behemoth intends to begin moving employees across to offices in Dublin in July and aims to compete the relocations by the end of year with the conclusion of a cross-border merger of its EU and UK banking entities.

It also confirmed the reorganisation will trigger a recruitment drive. The filings state BAML will achieve the role changes by the "voluntary relocation of relevant staff" as well as "new hires".

BAML announced its intention to recruit more staff in Dublin last year when it unveiled its Brexit plans. The group's decision to pick Ireland as its new EU hub delivered a much-needed boost to the Government's efforts to attract Brexit-related jobs after a number of prominent corporations like AIG and Lloyds of London opted for other European cities.

Corporate documents filed in Ireland and the UK reveal the North Carolina-based giant fired the starting gun on its Brexit overhaul in March. The overhaul will result see BAML splitting its existing EU headquarters in London into a broker dealer and a banking business in Dublin to serve EU clients.

Its new Dublin headquarters will be bolstered by sales and trading operations in Paris as well as its London-based entity. [...]

Full article on The Irish Independent