Sumitomo Mitsui Relocating EU Operations to Frankfurt as Brexit Looms

[kreslik.news]

Sumitomo Mitsui Financial Group (SMFG) has become the latest lender to unveil plans to relocate out of London to Frankfurt. Japan’s third bank by assets will has selected the German capital as the center for its EU operations moving forward, becoming the third Japanese bank in the past month to choose Frankfurt.

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Last month, both Nomura and Daiwa Securities Group publicly revealed their intent to relocate to Frankfurt. The decision ended months of contemplation from not the entire banking community, many of which have now made more concrete plans. The ... (read more)