Nordea has been losing clients since September, when it unveiled a plan to move its headquarters to Finland from Sweden in pursuit of a more hospitable regulatory climate inside Europe’s banking union.
Its move to transfer some staff there follows a similar pattern to other banks which have picked one EU center to be their main regional subsidiary in the bloc, but then locating other parts of their businesses in several countries.
RBS needs a post-Brexit European base in order to continue offering its financial services, so-called passport rights, in continental Europe.
Thanks to SIAnet, the fiber optic network with high speed and low latency stretching over 170,000 kilometers, ABN AMRO was one of the early users to introduce instant payments.
Staley, feted for his achievements at U.S. powerhouse JPMorgan <JPM.N>, pledged to revive Barclays' tired investment banking franchise as soon as he joined the bank in 2015, ending years of under-investment in the wake of the financial crisis.
The stability, he estimated, will only be increased by the 55-billion-euro common fiscal backstop to be established within the European Union by 2023 and by the banking union advocated by Finland.
This refers to a situation in which several countries borrow from just a few big international banks, raising the risk that losses in one country encourage the banks to withdraw from other borrower countries as well.