Credit Suisse to set up bank hub in Madrid post-Brexit
Credit Suisse will set up investment bank hub in Madrid moving it from its current location in London after the UK has left the European Union for good in 2021.
31 August 2020 11:07:48
Source: Sharecast
The bank has asked for a banking license to the Bank of Spain and the European Central Bank to upgrade its brokerage in the country into a bank, Expansion reported on Monday, quoting Wenceslao Bunge, Credit Suisse’s chief for Spain and Portugal.
The bank previously considered moving its investment operations in Paris but eventually opted for one centre in Madrid.
“We believe in the country and the advantages it offers. Spain has a very important competitiveness position,” Bunge said, according to Expansion.
Credit Suisse has already transferred 50 employees to the Spanish capital.
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
IWeb is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
