US bank Wells Fargo has applied for an investment firm license in France that will move European servicing from its current London office to Paris, becoming the latest institution to put Brexit plans into action on the eve of a crunch EU summit.

On Tuesday the financial services firm announced that, subject to regulatory approval, the firm’s license will be held in the French capital and will “offer a range of capital markets and investment banking services to its European and international customers that require access to the EU and the EEA”.