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Brexiting firms flock to Frankfurt, Dublin; some big banks go Dutch

More and more financial firms are choosing to set up European bases in Frankfurt or Dublin as an alternative to London in light of Brexit, but Amsterdam is also attracting a few big names.

Companies are making contingency plans to secure access to the EU single market after Britain exits the EU. Big U.S. and Japanese banks such as JPMorgan Chase & Co., Citigroup Inc., Morgan Stanley and Sumitomo Mitsui Financial Group Inc. have selected Frankfurt, Germany's biggest financial center. Dublin continues to attract a fair share of insurers and has lured some big banks such as Bank of China Ltd. and Barclays Plc.

Amsterdam is seeing increased interest, with Japan's Mitsubishi UFJ Financial Group Inc. saying it may house its EU investment banking operations in the Dutch capital, and Royal Bank of Scotland Group Plc in talks to set up a hub in the city. HSBC Holdings Plc is so far the only big name to select Paris, according to data gathered by S&P Global Market Intelligence.

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