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Morgan Stanley to move $120bn of assets from London to Frankfurt

Goldman and JPMorgan are already shifting assets to the EU as no-deal Brexit looms so they can continue to trade with clients in 2021

By

Will Hadfield

and

Paul Clarke

The US bank needs to strengthen its assets held within the European Union so that it can continue to serve clients in the 27-nation trading bloc once the UK’s post-Brexit transition period comes to an end on December 31
The US bank needs to strengthen its assets held within the European Union so that it can continue to serve clients in the 27-nation trading bloc once the UK’s post-Brexit transition period comes to an end on December 31 Photo: Getty Images

Morgan Stanley plans to shift $120bn of assets to its Frankfurt-based subsidiary before the end of March.

The US bank needs to strengthen its assets held within the European Union so that it can continue to serve clients in the 27-nation trading bloc once the UK’s post-Brexit transition period comes to an end on December 31.

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