Bank of America execs split over Brexit moves

Bank of America’s equity and fixed income desks are reportedly split over where to base their European trading hub following the UK’s exit from the EU.

The investment bank’s head of equities has been pushing for Frankfurt, while leadership within fixed income wants to be based in Paris, Bloomberg reports.

Chief executive Brian Moynihan has already said that Dublin is the preferred location for its main legal entity in the EU, but that plan does not rule out separate trading or sales hubs around Europe, some of which will need to move as soon as the UK exits.

Frankfurt is being touted for its growing status as a banking hub, with multiple international banking giants already announcing it as their new EU headquarters.

However, Paris is said to have more cosmopolitan appeal.

Bloomberg says the bank has extended its lease on its existing Dublin offices and is in talks for a further 150 spaces.

A decision is yet to made on the bank’s asset management division.