It cited “ongoing geopolitical challenges”, months after warning about Brexit, and said it would transfer work back to its Dutch base. Japan’s Sumitomo, Mitsui Financial Group, Daiwa Securities and Nomura, and Britain’s Standard Chartered have also chosen the German financial hub. Headquarters moving outThe European Union’s various agencies are not allowed to be based outside the union. Several major multinationals have also chosen to shift their headquarters from Britain amid the Brexit uncertainties. Japanese electronics giant Sony announced it will transfer its European headquarters from Britain to The Netherlands by the end of March to avoid Brexit-related customs issues.

Source: The Guardian February 19, 2019 16:18 UTC