Banks may leave UK if it quits the EU

BANGALORE Some Wall Street banks are drawing up preliminary plans that include moving some of their London-based operations to Ireland to deal with the possible scenario of Britain leaving the European Union (EU), the Financial Times reported on Sunday, citing people familiar with the situation. Citigroup, Morgan Stanley and Bank of America are considering Ireland as an alternative location for some of their European activities if they need to move them out of the UK. The FT reported that the plans were at a very early stage. Bank of America and Morgan Stanley declined to comment on the article. Citigroup could not immediately be reached for comment outside regular working hours.