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Report: Credit Suisse exploring Irish expansion in post-Brexit plans

Credit Suisse Group AG is considering plans to expand in Dublin as it moves to adapt to the U.K.'s departure from the EU, Bloomberg News reported Jan. 25, citing "two people familiar with the matter."

The bank, which launched a trading floor in the Irish capital in January 2016 for servicing hedge funds, is leaning toward Dublin for its back office jobs, but is also considering other cities including Frankfurt, one of the sources said.

Credit Suisse board member Noreen Doyle said earlier this week that the lender is in the "early stages" of exploring alternative locations to London and is "very pleased" with its existing operations in the Irish capital, the newswire reported.

A spokeswoman for Credit Suisse said the bank is "exploring solutions to various outcomes including a hard Brexit and are refining our in-depth analysis," adding that it does not have any preferred location yet, Bloomberg noted.