Bank of America confirms Dublin Brexit move

Bank of America yesterday confirmed it will become the first Wall Street lender to pick Dublin as its new base for its EU operations, as Britain prepares to leave the bloc.

International banks will set up subsidiaries in the EU so they can continue to serve clients, if their London operations lose the ability to operate across the bloc, once Britain leaves in March, 2019.

Frankfurt and Dublin are early winners for banks’ post-Brexit operations and Bank of America yesterday confirmed earlier speculation about its plans to expand in the Irish capital.