Post-Brexit Trendsetting? Lloyds Relocates Insurance Subsidiary to Brussels

[kreslik.news]

With Article 50 officially triggered this week, European lenders with a significant base of operations have begun finalizing their options for life after Brexit – the past few months have fueled speculation regarding where the future banking capital of Europe will be.

Lloyds is the first group to make a decision in at least one of its segments, with its insurance operations settling on Brussels for the new site of its European Union subsidiary, according to a Reuters report. The decision was fueled by a desire for a strong regulatory framework, which ultimately trumped other destinations such as Luxembourg.

[size=180][b]More banks to follow ... (read more)