FILE PHOTO: British and EU flags flutter outside the Houses of Parliament during a pro-Brexit and anti-Brexit demonstration, ahead of a vote on Prime Minister Theresa May's Brexit deal, in London, Britain, January 15, 2019. REUTERS/Eddie Keogh/File Photo FRANKFURT (Reuters) - More than 45 financial institutions are planning to newly establish themselves or significantly increase their presence in Germany as a result of Britain’s planned exit from the European Union, a German official said on Tuesday. The figure was announced by Felix Hufeld, the president of Germany’s financial markets watchdog BaFin. It marks the most up-to-date and authoritative indication of Brexit’s impact on Germany’s financial landscape. Among banks that announced plans to relocate some of their EU operations to Frankfurt are Citigroup (C.N), JPMorgan Chase (JPM.N), Morgan Stanley (MS.N), and Standard Chartered [STANB.UL]. In August, Hufeld said that Germany was processing more than 25 banking licences. Hufeld also called on Tuesday for greater coordination in Europe in the fight against money laundering. “For me, money laundering preventing is an absolutely urgent task,” Hufeld said. “A better coordination in Europe is necessary.” Reporting by Tom Sims; Editing by Douglas Busvine
More than 45 financial organisations are planning to move parts of their EU operations to Brexit due to Brexit , said Felix Hufeld , president of financial markets watchdog BaFin . Citigroup , Citigroup , JPMorgan Chase and Standard Chartered are among the banks planning to move some EU work to Germany . Around 25 banking licences were being processed in Germany in Tuesday , Hufeld had previously confirmed.