Poland wants to lure some of Britain’s biggest banks to Warsaw, the Financial Times has reported, ahead of a visit by Polish Development Minister Mateusz Morawiecki to London on Thursday.
The paper reported various European capitals have argued that, after the Brexit vote, financial services groups need to consider finding a new base if the UK is to be stripped of ‘passporting’ rules which allow them to operate across borders without licences.
Morawiecki will be talking in London to representatives of Britain’s biggest banks.
“Many of them have approached us. There is clearly increased interest in leaving London,” Morawiecki was quoted by the Financial Times as saying.
The paper wrote that there are 50,000 employees of international banks already working in Poland, due to comparatively low wages, a high level of education and access to the EU market.
But Poland faces a challenge from rival EU countries interested in attracting London bankers, writes the Financial Times, adding that since Britain’s referendum vote to leave the EU, cities such as Paris, Frankfurt, Amsterdam and Dublin have also been eyeing London’s banking business.