The logo of the major American bank Morgan Stanley
The American investment bank is apparently planning to bring billions in assets from Great Britain to Germany. Other banks had also announced relocations in the past few months.
D.he American investment bank Morgan Stanley plans to move around 100 billion euros (around 120 billion dollars) in assets to Frankfurt, according to the Bloomberg news agency. According to an unnamed source, the bank wants to transfer a large part of the assets in the first quarter of next year and bundle them in Morgan Stanley Europe SE, which is based in Frankfurt. A Morgan Stanley spokeswoman declined to comment.
Another bank, Morgan Stanley, would send a strong signal ahead of Brexit. It is well known that the British transition period is coming to an end without a financial services agreement in sight. This is fueling concerns that the financial center London could gradually lose its dominant position in the coming years.
Other American banks such as JP Morgan or Goldman Sachs had also announced relocations to the European Union (EU) in recent months. The relocations, which amount to 200 billion euros in assets and 200 employees for JP Morgan, are only the “first wave,” said Dorothee Blessing, co-head of the European investment banking unit, in September. Morgan Stanley has already moved employees from London to various locations in the EU such as Madrid and Milan