5. Preparing for Brexit

In June 2016, ブックメーカー 合法 UK held a referendum on its European Union (EU) membership. Voters chose to leave ブックメーカー 合法 EU by a slender majority. This resulted in ブックメーカー 合法 official decision of ブックメーカー 合法 UK government to withdraw from ブックメーカー 合法 EU, an action which is commonly known as “Brexit”. In March 2017, ブックメーカー 合法 UK gave formal notice to ブックメーカー 合法 European Council of its intention of Brexit and began ブックメーカー 合法 withdrawal negotiation process, which was frustrated by formidable challenges due to ブックメーカー 合法 nation’s political imbroglio.

It was expected that Brexit could seriously disturb the European operations of SMBC, which were managed through a UK-based subsidiary, Sumitomo Mitsui Banking Corporation Europe Limited. In order to ensure the continued, stable business and services to customers in Europe even after Brexit, SMBC established SMBC ブックメーカー 合法 EU AG, a new wholly owned banking subsidiary, in Frankfurt, Germany. SMBC Nikko Securities also established SMBC Nikko Capital Markets Europe GmbH. The two new companies commenced operations in April 2019. For the location of the new establishments, Frankfurt was selected from among several candidates under consideration, including Paris, Brussels, Amsterdam, and Dublin. Frankfurt was chosen partly because it is the home of the European Central ブックメーカー 合法 (ECB) as well as a leading financial center with an abundant supply of financial professionals.