Barclays signs up office space in Dublin in the run-up to Brexit

 
Shruti Tripathi Chopra
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Barclays is planning to expand its operations in Dublin (Source: Getty)

Barclays has signed up more office space in Dublin as part of its push to expand its operations in the Irish capital following Brexit.

The high street bank has signed a 20-year lease agreement with Green Reit, an Irish real estate development trust, to let two-and-a-half floors covering 3,437 square metres in central Dublin. Barclays will pay €2.35m (£2.1m) in rent a year for the space.

The banking giant's licenced entity in Dublin, Barclays Bank Ireland, employs around 100 people. Barclays is also in talks with Irish regulators about extending its activities in Dublin, it revealed in July.

Read more: Freedom of movement to end March 2019, Number 10 confirms

Last month, Bank of America (BofA) announced it has chosen Dublin as it post-Brexit base for its investment banking and markets operations.

BofA chief executive Brian Moynihan said Dublin is the “natural location to consolidate our legal entities as we transition”.

“We will move roles not only to Dublin but to other EU locations, with the focus on how we can best support our clients in these markets,” he added.

Read more: Despite Brexit: Moody's lifts the ratings on UK banks

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