Barclays to relocate European HQ from Dublin to Paris

Bank employs 350 staff in Dublin and move likely to affect only a 'small number' 

Barclays will relocate its European headquarters from Dublin to Paris, the bank confirmed on Wednesday, following what the bank called a "comprehensive review". Picture: Ian West/PA 

Barclays will relocate its European headquarters from Dublin to Paris, the bank confirmed on Wednesday, following what the bank called a "comprehensive review" of operations.

The Dept of Finance has described the bank's decision as "regrettable". Barclays moved operations to Dublin in 2019.

"Barclays Europe (Barclays Bank Ireland PLC) has now started formal legal and regulatory processes to redomicile its headquarters from Dublin to Paris," a Barclays statement said. The bank said the move would strengthen oversight and governance by bringing decision-making closer to the majority of its investment banking operations in continental Europe.

"Taking formal steps to relocate our European headquarters to Paris is a strategic milestone that will enhance our ability to serve clients across continental Europe while reinforcing our commitment to strong governance. After extensive discussions at all levels of the organisation, we are confident this is the right step forward – both for the entity and for our clients," said Barclays Europe chief executive Francesco Ceccato. "We are very excited about the opportunities ahead.”

Barclays operations in Dublin employ over 350 staff. Barclays said it will retain "significant ambitions for its corporate banking and private bank businesses in Ireland, which will remain in place with a strong team of Dublin-based client-facing and operational colleagues". Barclays previously said any move would not materially change its European operating model and would affect only a “small number” of Dublin staff.

A Dept of Finance spokesperson said Tánaiste and finance minister Simon Harris noted Barclays' decision to redomicile its headquarters from Dublin to Paris. "While it is regrettable that Barclays has chosen to relocate its European headquarters, we recognise that this is a commercial decision. We welcome the confirmation that Barclays will retain its corporate banking and private banking operations in Ireland," the spokesperson said.

Barclays is the UK’s second-largest listed bank by assets and picked Dublin as its EU base in the aftermath of Brexit but has publicly deliberated a relocation to Paris since 2023. At the time, Barclays said the shift could take place in the following 24 months, implying 2025 would be the moment to move. Last year, it delayed the move. 

Barclays said it is seeking approvals to convert into a "Societas Europaea," a European company structure that allows firms to operate across the EU under a single set of rules. After the conversion, its name would be changed to Barclays Europe SE.

The conversion is expected to be completed by the end of 2026, with the headquarters relocation to be finalised in the first half of 2027, subject to regulatory approval.

Additional reporting by Bloomberg