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Citadel Securities says Dublin base is 'hedge' for Brexit
May 12, 2017 / 4:02 PM / 7 months ago

Citadel Securities says Dublin base is 'hedge' for Brexit

DUBLIN (Reuters) - U.S. financial firm Citadel Securities said on Friday its Dublin base provided a “hedge” against any potential upheaval in its British operations arising from Brexit.

Paul Hamill, Global Head of Fixed Income, Currencies and Commodities at Citadel Securities, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2017. REUTERS/Mike Blake

Asked if its growing operation in Dublin gave the firm options should they need to move business from London after the terms of Britain’s divorce from the European Union are known, a senior executive at the firm, Paul Hamill, said: “Dublin is an obvious hedge to a situation where you may be looking for another location for certain businesses.”

Citadel Securities executives told the Irish Times this week that the firm plans to treble its Irish workforce to 50 people within two years but that its decision to establish a base in Dublin predates Brexit.

Citadel Securities only operates in Dublin and London in the European Union. Hamill said the firm currently has no plans to open another office in the EU.

(This story has been corrected to change source to Citadel Securities executives in paragraph 3)

Reporting by John Geddie; Editing by Catherine Evans

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