Barclays has confirmed plans to expand its Dublin operations as its European Union base, amid concerns over its future trading arrangements after Brexit.
It is understood the bank could increase staff numbers at its Dublin office by up to 150, potentially doubling the size of its local employee base.
However, it is not clear whether that would be the result of local recruitment or the relocation of UK jobs to the Irish capital.
Barclays did not comment on how many employees would be added to its Irish operations, adding that it was still in discussions with the regulator over plans to use the Dublin subsidiary to continue trading within the EU.
The bank confirmed today that it plans to use Barclays Bank Ireland as its EU hub to mitigate any potential disruption to business after Brexit.
The bank said in a statement: ‘Barclays Bank Ireland, which has a banking licence and which we have operated for almost 40 years, provides a natural base and we are engaging with our regulators in discussions to extend its activities.
‘While we remain confident of continued deep inter-linkages between EU and UK financial services markets, in the absence of certainty around the timing and composition of an agreement, we intend to take necessary steps to preserve ongoing market access for our customers.’