Morgan Stanley has chosen Frankfurt to be a new base for its European Union operations as Britain prepares to leave the bloc.
In a twist that surprised some, the Treasury Department is signaling its intent to sign a bilateral agreement between the United States and the European Union.
Goldman Sachs is scouting for office space in Frankfurt that could serve as its new trading hub inside the European Union after Brexit.
EU officials do acknowledge that the agreements to be reached before Britain leaves in March 2019 can only be concluded as a whole package simultaneously.
The British government says that the talks to leave the European Union will start Monday, as planned.