US banks plan ahead for UK exit from EU

[KOR101]

Wall Street banks are drawing up preliminary plans to move some London-based activities to Ireland to address concerns that the UK is drifting apart from the EU.

People familiar with Bank of America, Citigroup and Morgan Stanley told the Financial Times that they considered Ireland a favorable location for some of their European business if they needed to move them out of the UK. One said he was already planning to move some activities to Ireland.

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