September 20, 2016 / 5:31 AM / 3 years ago

BRIEF-Japanese banks moving non-British European headquarters to Amsterdam - FD

AMSTERDAM, Sept 20 (Reuters) - — Japanese banks Mitsubishi UFJ Financial Group and Mizuho Financial Group Inc are consolidating headquarters for their European activities outside Britain in the Netherlands, Dutch daily Het Financieele Dagblad reports

— The paper quotes officials and spokespeople from the banks as saying that this decision predates Britain’s vote to exit the European Union, and neither has decided to leave London

— However, both banks have “passporting” rights for the European Union at their Amsterdam offices, which would allow them to continue EU operations if their London headquarters lose those rights due to the Brexit vote

— Mitsubishi has renamed its Dutch branch from Mitsubishi Holland to MUFG Bank Europe, while Mizuho Bank Nederland is changing its name to Mizuho Bank Europe - Het Financieele Dagblad

Reporting by Toby Sterling

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