Morgan Stanley Will Shift $120 Billion in Assets to Germany

Morgan Stanly will shift around $120 billion in assets to the German city of Frankfurt from the United Kingdom in 2021 as a consequence of Brexit.

Morgan Stanly will shift around $120 billion in assets to the German city of Frankfurt from the United Kingdom in 2021 as a consequence of Brexit.

A person familiar with the matter speaking on condition of anonymity, said that Morgan Stanley will “inevitably” take this step as Germany is the ”perfect nation” in Europe to make this move, pointing out that Brexit “will make things a little bit more difficult.” 

The United Kingdom and the European Union are currently in discussions to hammer out a post-Brexit trade agreement.

The source also told the media outlet that the volume of assets slated for transfer represented a rough estimate and would probably be moved in the first quarter of the year 2021. 

Frankfurt’s banking scene has been one of the primary beneficiaries of the United Kingdom’s exit from the European Union as some of the biggest global banks chose Germany’s financial capital Frankfurt to house staff and assets. Dozens of financial institutions have applied for licenses in Germany.

Banks that have increased their presence in this city include Citigroup , JPMorgan , Standard Chartered and Goldman Sachs.


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