UK COMPANIES RELOCATION PLANS POST BREXIT

Germany is the preferred destination for operations moving from the UK, followed by the Netherlands, France, Italy and Spain. A second cluster of countries in Central and Eastern Europe are also favored by UK companies looking for alternative locations.

Financial Sector

1. Bank of America: Considering relocating staff to Dublin
2. Barclay’s Bank: Will move its European Hub to Dublin post Brexit
3. Citigroup has been in discussions with authorities in Ireland, Italy, France, Spain, Germany and the Netherlands as potential locations for setting up a new operation in Europe
4. Deutsche Bank: UK branch considering various options
5. Goldman Sachs: Will close some of its hedge fund operations in London and move the staff to New York. Will upgrade facilities in Germany and France
6. HSBC: Will move to Paris in about two years
7. JP Morgan Chase & Co.:  Evaluating European cities for moving its banking activities from London after Brexit.
8. Lloyd’s of London:  Will set up a new Brussels-based subsidiary
9. Morgan Stanley: Considering relocating staff to Dublin
10. UBS: Could relocate possibly to Frankfurt or Madrid

Other Sectors

1. Diageo: Moving its vodka production out of Scotland to Italy and the US
2. Easyjet: To set up a new company in Vienna, Austria
3. Game companies: 40 percent of game companies based in the UK are considering relocating
4. Microsoft: Contemplating expanding its operations elsewhere in Europe
5. Smiffy’s: Will open a new head office in the Netherlands