Morgan Stanley (MS.N) will make decisions on redeploying staff to its chosen locations of Frankfurt, Paris and Dublin as a result of Brexit very early this year, its president said on Wednesday.
“We’ll be making decisions very early this year. What the politicians don’t understand is these are people,” Colm Kelleher told a conference in Dublin, in reference to Britain’s planned exit from the European Union in March 2019.
Asked if the bank would need to know by the end of March the terms of the transition agreement that will ease Britain out of the bloc, Kelleher said that was “pretty fair” and that the size of any moves would depend on the shape of the Brexit deal.
Source: Reuters (Reporting by Padraic Halpin and Conor Humphries. Editing by Jane Merriman)