Leading US bank favours Dublin for post-Bexit expansion
Bank of America has chosen Dublin as its preferred location for its post-Brexit EU entity, in a big-name win for the Irish government in its hope of attracting Brexit spoils from the City of London.
The banking giant already employs 700 people in the Irish capital but could not give any details of planned expansion, other than to say that roles would not only move to Dublin, but also other locations in the EU.
After a number of high-profile losses to cities such as Frankfurt and Brussels, the Bank of America announcement is a positive for the Irish government.
Taoiseach Leo Varadkar said the decision was a strong endorsement of Ireland's attractiveness as a location for investment, and of the Irish government's approach to securing Brexit-related activities.
"Bank of America has a long-standing commitment to Ireland," Mr Varadkar added.