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Dublin is the post-Brexit pick for Bank of America

Published 07/21/2017, 09:36 AM
© Reuters.  Dublin is the post-Brexit pick for Bank of America
BAC
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  • Fading the moves of peers who are flocking to Frankfurt for their post-Brexit expansion plans, Bank of America (NYSE:BAC) has chosen Dublin.
  • Speaking to the FT, CEO Brian Moynihan won't put a number on it, but says his bank will definitely have more than the current 700 working in the Irish capital - to be done through new hires and the moving of staff from London.
  • Ireland's relatively puny 12.5% corporate tax rate "wasn't really a consideration," says Moynihan. Other than some greasing of the regulatory process, BofA, says Moynihan, is getting no state support.
  • Now read: Bank Of America: A Look At Q2 Loan Growth Before Earnings


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