Nomura Holdings employs around 3,000 people in Europe, with the majority of those employees based in London.

Japan's Nomura Holdings was tight-lipped when asked by this publication whether it has decided to make German city Frankfurt the headquarters of its European operations post-Brexit.

There has been a lot of noise in recent times about firms plans to move their London operations to place likes Ireland and Germany after the UK’s eventual exit from the European Union. Negotiations started on Monday between the EU and the UK, and it is still unknown whether Prime Minister Theresa May will push for “hard Brexit”, which may mean the loss of access to the single market.

Bloomberg reported that Nomura plans to transfer fewer than 100 people to Frankfurt from London, after seeking regulatory approval and office space.

The firm employs around 3,000 people in Europe, mainly in London. Preparations for the move will start this month, it was reported.

Nomura declined to comment to this publication on the matter.