Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

11 January 2018

The Telegraph: Payment transfer giant Moneygram to move EU offices out of London


US money transfer giant Moneygram will move its European headquarters out of London to Brussels, putting hundreds of UK jobs at risk, as financial services chiefs attempted to sway the Government in favour of maintaining single market access after Brexit.

Moneygram had warned last month that it would be forced to shift its operations servicing the European Economic Area, as "once the UK is no longer part of the EU, it is anticipated the company will no longer be able to provide payments services outside the UK".

The group, whose UK business Moneygram International employed 300 people as of Dec 31, 2016, providing services across Europe and generating around €233.6m (£208m) in revenue, said it would be repatriating those operations to a EU member company. 

The National Bank of Belgium confirmed on Thursday it had issued a banking licence to Moneygram, following meetings with the group in the spring last year. [...]

Full article on The Telegraph



© The Telegraph


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment