Mizuho Financial Group is considering Japanese cities including Dublin, Amsterdam and Luxembourg as potential locations in the event of a "heavy Brexit". CEO Yasuhiro Sato said many cities had approached the lender but nothing had been decided yet. Passporting is not an issue for the bank, Sato said, but added, "on the securities side we have a subsidiary so we have to take certain action if there is a heavy Brexit.". A number of lenders, including HSBC and JPMorgan Chase have indicated they will reduce their UK operations following Theresa May's announcement on leaving the single market.
Mizuho Financial Group is considering European cities including Dublin, Amsterdam and Luxembourg as potential locations in the event of a "heavy Brexit". CEO Yasuhiro Sato said many cities had approached the lender but nothing had been decided yet. Passporting is not an issue for the bank, Sato said, but added, "on the securities side we have a subsidiary so we have to take certain action if there is a heavy Brexit.". A number of lenders, including HSBC and JPMorgan Chase have indicated they will reduce their UK operations following Theresa May's announcement on leaving the single market.