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Banks tempt London staff to EU with Brexit sweeteners

Some of the City’s biggest lenders are working to shift thousands of employees to Europe before the UK officially exits the bloc

Monday, 25 February 2019 at 00:01

Aerial view of the City cluster. City of London. London. England. UK
Aerial view of the City cluster. City of London. London. England. UK Photo: Getty Images

London’s top banks are offering lucrative incentives to lure their most prized personnel to Europe, dropping their previously hardball approach to Brexit relocations as the March 29 deadline looms.

A number of lenders, including UBS, Nomura, BNP Paribas, Morgan Stanley, Bank of America Merrill Lynch and Standard Chartered, are offering to compensate employees for the cost of commuting between the European Union and UK if workers agree to move abroad, according to people familiar with the matter.