(Adds Bank of America response)
Aug 17 Some Wall Street banks are drawing up
preliminary plans that include moving some of their London-based
operations to Ireland to deal with the possible scenario of
Britain leaving the European Union, the Financial Times reported
on Sunday, citing people familiar with the situation.
Citigroup Inc, Morgan Stanley and Bank of
America Corp are considering Ireland as an alternative
location for some of their European activities if they need to
move them out of the UK, according to people familiar with the
banks, the Financial Times reported.(on.ft.com/1t80uTx)
The FT reported that the plans were at a very early stage.
Bank of America and Morgan Stanley declined to comment on
the article. Citigroup could not immediately be reached for
comment outside regular working hours.
British Prime Minister David Cameron has vowed to conduct a
referendum on a renegotiated EU membership if the Conservative
party is re-elected in 2015. This possibility has raised fears
that the world's sixth-largest economy could quit the club it
joined in 1973.
The situation worries many in the City of London, the
financial centre that accounts for roughly one-tenth of the
(Reporting by Karen Rebelo in Bangalore; Editing by Jan
Paschal, Jason Neely and Eric Walsh)