Barclays Plc could shift its European headquarters to Paris from Dublin.
(Bloomberg) — Barclays Plc could shift its European headquarters to Paris from Dublin.
“We are exploring a potential move of our EU headquarters from Dublin to Paris,” the bank’s Irish subsidiary said in a report published Thursday. “This would be an intra-EU, technical change to our operating model, and would have no impact on the group’s UK activities with regards to employment, business activities or revenue.”
The London-based bank, which employs roughly 300 staff in Paris, has already said recently it’s planning to add about 200 more people by 2026.
With a growing headcount, Barclays is poised to move into a bigger office in Paris by the end of next year: a 11,000-square-meter (118,400 square feet) facility on Avenue Hoche near the Arc de Triomphe, close to its current 6,000-square-meter premises.
Barclays has roughly 1,800 people across 10 countries in the EU, with Paris currently almost as big as its Dublin office. At the end of 2022, the bank as a whole had nearly 90,000 employees, according to its annual report.
The outcome of the “exploratory” work to move the headquarters is not expected to have an impact on the service that Barclays Europe provides to clients, it said. The potential move would only affect a “small number” of roles in Dublin, and could take place in the next 24 months.
Since the UK exited the European Union more than two years ago, many financial firms have been bolstering their presence in continental Europe, with both Dublin and Paris among the major beneficiaries.
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(Adds details of EU presence, Paris office. An earlier version of the story was corrected to fix the operating model reference.)
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