{"id":256462,"date":"2026-01-21T17:06:12","date_gmt":"2026-01-21T17:06:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/256462\/"},"modified":"2026-01-21T17:06:12","modified_gmt":"2026-01-21T17:06:12","slug":"barclays-confirms-plan-to-move-eu-hub-from-dublin-to-paris-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/256462\/","title":{"rendered":"Barclays confirms plan to move EU hub from Dublin to Paris \u2013 The Irish Times"},"content":{"rendered":"

UK banking giant Barclays<\/a> has confirmed it is proceeding with a plan to move its European Union (EU) headquarters from Dublin to Paris, but continues to have \u201csignificant ambitions\u201d for its business in Ireland. <\/p>\n

Sources said that the relocation, expected to be completed in the first half of next year, will have a \u201cminimal impact\u201d on jobs in Dublin, where 356 are currently employed. Barclays plans to continue to grow its operations in the Irish capital, they said. <\/p>\n

\u201cTaking formal steps to relocate our European headquarters to Paris is a strategic milestone that will enhance our ability to serve clients across continental Europe while reinforcing our commitment to strong governance,\u201d said Francesco Ceccato, chief executive of Barclays Europe, in a statement. <\/p>\n

\u201cAfter extensive discussions at all levels of the organisation, we are confident this is the right step forward \u2013 both for the entity and for our clients. We are very excited about the opportunities ahead.\u201d <\/p>\n

The bank retains significant ambitions for its corporate banking and private bank businesses in Ireland \u201cwhich will remain in place with a strong team of Dublin-based, client-facing and operational colleagues\u201d, the bank said. <\/p>\n

Barclays revealed in August 2023 that it was weighing moving its fledgling EU headquarters from Ireland to France, less than five years after it chose the Irish capital as its European hub as a result of Brexit<\/a>.<\/p>\n

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It signalled at the time that relocation would take place by the middle of 2025, if such a decision were to be taken. The group said in January last year that a potential move would take place in 2027 at the earliest. <\/p>\n

The headquarters move remains subject to regulatory clearance. <\/p>\n

The company has more than doubled its workforce in the Republic to 356 in the wake of the UK deciding to exit the EU. Barclays and Bank of America were the only major international banks to choose Dublin as their main banking hub in the union following the vote. Citigroup had already established its EU base in the State six months before the Brexit referendum.<\/p>\n

Barclays Bank Ireland, the registered name of Barclays Europe, dates to 1978, but had only about \u20ac3 billion of assets at the time of the Brexit referendum. Its assets base had swollen to \u20ac150.7 billion by the middle of last year, making it the fourth-largest bank by assets in the Republic.<\/p>\n

Its Paris office, however, has increasingly become a trading centre for the unit. <\/p>\n

Barclays Bank Ireland swung into a net profit of \u20ac268 million in the first half of last year from a \u20ac102 million loss for the same period last year. That shortfall had been driven by a \u20ac252 million loss on the sale of its Italian retail mortgage portfolio.<\/p>\n

The Irish unit was previously home to the group\u2019s former German consumer finance business, which was sold to Austrian banking group Bawag early last year. Bawag is currently among potential bidders circling PTSB. <\/p>\n

Barclays Europe is seeking necessary legal and regulatory approvals to convert its corporate form into a European public limited company, or Societas Europaea (SE). That change into an SE is expected to be completed by the end of 2026, with the relocation of the headquarters from Dublin to Paris finalising in the first half of next year. <\/p>\n","protected":false},"excerpt":{"rendered":"UK banking giant Barclays has confirmed it is proceeding with a plan to move its European Union (EU)…\n","protected":false},"author":2,"featured_media":256463,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[18278,72,61,60],"class_list":{"0":"post-256462","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-barclays","9":"tag-business","10":"tag-ie","11":"tag-ireland"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/256462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=256462"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/256462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/256463"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=256462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=256462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=256462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}