Barclays Chairman says staff moves post Brexit could be 'in the hundreds'


LONDON (Reuters) – Barclays (BARC.L) could move hundreds of staff out of Britain post-Brexit, the British bank’s chairman told a parliamentary committee hearing on Wednesday.

FILE PHOTO: The logo of Barclays is seen on the top of one of its branch in Madrid, Spain, March 22, 2016. REUTERS/Sergio Perez/File Photo

“Staff moves from Brexit could be in the hundreds” John McFarlane, Chairman of Barclays said.

The British bank said in July that it was talking to Irish regulators about extending its activities in Dublin in preparation for when Britain leaves the EU in March 2019.

Barclays already has a licensed entity in Dublin, Barclays Bank Ireland, employing around 100 people, which currently has a license to conduct mainly corporate banking activities, and intends to extend the range of that license so it can continue serving clients once Britain leaves the bloc.

Reporting By Anjuli Davies and Lawrence White. Editing by Jane Merriman

Our Standards:The Thomson Reuters Trust Principles.

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