) has applied for a licence to set up an investment bank hub in Madrid after Britain has left the European Union, a spokesman said on Monday confirming a report from Spanish newspaper Expansion.
The Swiss lender sought a licence from the Bank of Spain and the European Central Bank in July to upgrade its brokerage in the country to a bank, the spokesman said confirming the article that quoted Wenceslao Bunge, Credit Suisse’s chief for Spain and Portugal.In July, the EU’s banking watchdog told banks using Britain as a gateway to the European Union to fully execute their plans for serving EU customers before a Brexit transition period ends in December.
Credit Suisse said in a statement its priority has always been to ensure it maintained access to European Union clients and markets regardless of the outcomes of the Brexit process. The decision to move part of its operations to Madrid was made after considering costs, employees’ preferences among other factors, Bunge told Expansion. “We believe in the country and the advantages it offers. Spain has a very important competitiveness position,” he said.
Lol yeah I bet
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