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Previously, the bank, which employs 48,700 people in the UK, said it would be expanding its operations in Dublin by 150-200 jobs, making Ireland its base for continuing to trade within the EU.
But it has emerged that some of those jobs will be based in Frankfurt, although technically the individuals would be employed by the Irish unit, according to a report from Reuters. Most are expected to be hired locally rather than physically moved from London.
It is understood that the roles affected are in the bank’s euro trading team. The shift will allow Barclays to continue trading in euros with European clients even if the UK leaves the EU in March 2019 with no trade deal or transition agreement. [...]