The move is expected to double the workforce at Morgan Stanley’s existing Frankfurt office, which houses 200 staff, though the bank may also increase its presence in its Paris and Dublin offices as part of its post-Brexit strategy. Morgan Stanley declined to comment, although a source inside the bank privately confirmed the Frankfurt plans. We need to establish a second main hub to London in Europe.”Will London survive as a financial centre after Brexit? Bailey made his remarks amid expectations that the Wall Street firm Citi will shortly announce that Frankfurt is to become its key hub in the EU. Morgan Stanley shares jumped 3.9% to $46.95 in morning trading.

Source: The Guardian July 19, 2017 16:12 UTC