Barclays to continue passported activity post-Brexit
Barclays has announced that it plans to use its licensed EU subsidiary to allow it to continue passported activity post-Brexit. Martin Shanahan, CEO of IDA Ireland said: “This announcement by Barclays to extend activities at their Dublin base is a further endorsement of Ireland’s strong offering to the International Financial Services Sector.
“Ireland’s access to the EU’s markets and regulatory systems has become increasingly important for Ireland post-Brexit. Companies based in the U.K want to retain a foothold in the EU, and Ireland is the perfect location from which to do this.
“In a time of international political change across the world, businesses like Barclays are looking for certainty – Ireland provides a consistent, certain, pro-enterprise policy environment for businesses to thrive.
“Barclays has had a strong presence in Ireland since 1978. IDA looks forward to working with Barclays to support their expansion.”
The news was also welcomed by the Irish Government. Minister for Enterprise and Innovation, Tanaiste Frances Fitzgerald said: “I very much welcome today’s significant announcement by Barclays. Barclays decision to expand here, highlights once again the attractiveness of locating in Ireland, particularly for companies in the International Financial Services Sector. Today’s announcement is a strong vote of confidence in Ireland’s growing importance as a gateway into the single market.”