ECON Morgan Stanley Moving 2,000 Jobs to Dublin and Frankfort after Brexit

[Melodi]

I thought this needed its own thread, feel free to add other breaking economic bolting by large corporations, banks etc; I am a bit stunned this is already starting - though of course Dublin benefits - Melodi

Morgan Stanley begins moving 2,000 London jobs to Dublin and Frankfurt after UK votes to leave EU

The American investment bank is moving jobs in euro clearing as well as other investment banking functions


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Morgan Stanley has begun the process of moving 2,000 jobs to Dublin and Frankfurt following the vote for the UK to leave the EU.

Sources told the BBC on Friday that the process was already underway.

The American investment bank is moving jobs in euro clearing as well as other investment banking functions and senior management.

More follows

http://www.independent.co.uk/news/b...eferendum-jobs-dublin-frankfurt-a7100911.html

 

[MetalMan]

They have to move. The public just voted out their ongoing scam on the public. The jig is up, time to move to where the con can continue.

Is there anyone here that cares if Morgan Stanley left the U.S.?

 

[Melodi]

Oh wait, I think some folks in the company don't know what the others are saying lol...
Brexit: Morgan Stanley denies it is to move 2,000 investment bankers to new European HQ in Dublin in immediate wake vote
Ailish O'Hora and Sean Duffy

Published
24/06/2016 | 14:18

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Colm Kelleher, president of Morgan Stanley
1
Colm Kelleher, president of Morgan Stanley

INVESTMENT banking giant Morgan Stanley has denied it is eyeing Dublin or Frankfurt as a location for 2,000 of its investment bankers following the Brexit vote.

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The bank told the BBC that reports that it was moving 2,000 investment banking staff from London to Dublin or Frankfurt were "completely false."

However, it is understood that the bank is still considering a new location for up to 1,000 investment bankers and Dublin is still in the running as is Frankfurt.

A timeframe has not yet been established, it is believed.

Earlier the top Irish executive at Morgan Stanley said a UK vote to leave the European Union would be the most significant geopolitical event for the Continent since the end of World War II.

Morgan Stanley president Colm Kelleher said a Brexit vote could prompt the bank to move its European headquarters to Dublin or Frankfurt from London.

"This will be the most consequential thing postwar that we've ever seen," Mr Kelleher said yesterday in an interview on Bloomberg Television with Erik Schatzker. "Initially, the fallout can be controlled, but the political ramifications are actually quite profound."

"We're hoping that the British voter will show sense and listen to the economic arguments and stay," Mr Kelleher said. "But we clearly are looking at our plans," he said, adding that the New York-based firm would consider moving its European headquarters from London.

Mr Kelleher (59) joined the US bank in 1980, and has run its investment bank and trading division since 2013. He gained oversight of the brokerage in January, when he was promoted to president.

http://www.independent.ie/business/...n-dublin-in-immediate-wake-vote-34830359.html

 

[Buick Electra]

Colm...GO!!! PLEASE GO!!!

 

[Red Baron]

Not to say the initial report isn't true, it just may not be "official" yet.

DW and I both worked for companies that had drawn up plans for plant closures but denied them publicly for over a year.

We saw the plans, in writing, while company officials were telling the media and the employees that they were -not- closing the plants.

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Editor's note: We have deleted a BBC report that Morgan Stanley is moving about 2,000 jobs out of London following the Brexit vote. A company spokesman told CNBC it is not true. We will watch for any additional clarity. - Stephanie

End of note

http://www.breakingnews.com/