HSBC and Standard Chartered are expanding their EU operations to help clients tackle financial regulations and Brexit. Apart from investment banking, the banks will also include day-to-day transaction banking. HSBC has launched a “Europe Means Business” campaign, and Standard Chartered’s Frankfurt staff has more than doubled to three or more. Up to now, UK financial companies have run the European businesses from London, but are reported to require multiple hubs after Brexit. HSBC’s EU markets CEO James Emmett said firms from countries including the US and China increasingly want to work with a single bank in continental Europe.
HSBC and Standard Chartered are expanding their EU operations to help clients tackle financial regulations and Brexit. Apart from investment banking, the banks will also include day-to-day transaction banking. HSBC has launched a “Europe Means Business” campaign, and Standard Chartered’s Frankfurt staff has more than doubled to 200. Up to now, UK financial companies have run the European businesses from London, but are reported to require multiple hubs after Brexit. HSBC’s EU markets CEO James Emmett said firms from countries including the US and China increasingly want to work with a single bank in continental Europe.