Paris or Frankfurt? BofA execs debate trading hub location
Others are suggesting the lender pursue multiple HQs for different types of banking businesses
Add BT as a preferred sourceNew York
BANK of America Corp's investment bank executives are divided over where their European Union (EU) trading hub should be after Brexit, according to people with knowledge of the matter.
Equities head Fabrizio Gallo has pushed for Frankfurt as the base for traders working with EU clients, while his fixed-income colleagues Sanaz Zaimi and Bernard Mensah have favoured Paris, the people said. Some trading operations will be forced to leave London when the UK exits the bloc, currently set for early 2019.
TRENDING NOW
NDR 2026: Singapore to create new Western island to support 'new generation of industries'
MSCI drops S-E Asian heavyweights Sembcorp, GoTo and Ayala Land from global benchmarks
E-commerce is killing ‘real’ commerce, says China’s beverage king Zhong Shanshan
Asia-Pacific aviation: is up really the only way?
