ZURICH: UBS Group AG is leaning toward Frankfurt for its trading headquarters inside the European Union after Brexit, according to four people with knowledge of the matter.
The Swiss firm’s investment bank employs about 4,800 bankers globally and could move 250 or more jobs out of London to Frankfurt and other European locations, two of the people briefed on the deliberations said, asking not to be identified as the talks are private. UBS has notified the German regulator that it may increase its business in Frankfurt, the people said. No decision has yet been made and the numbers could still change, they said.
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