Spanish investment firm EDM announced on 10 October it is moving headquarters from Barcelona to Madrid, the same day an unilateral declaration of independence could be made by the Catalan government.
The managing board of EDM Gestión SGIIC (the firm’s asset manager) alongside its parent EDM Holding, said on 10 October that the entity had made the decision in order to protect the interests of its customers while ensuring it remains operating under a stable regulatory framework, such as the National Securities Market Commission (CNMV).
The Spanish insurer Catalana Occidente has also announced its transfer to Madrid, raising to some thirty the number of companies that have decided to relocate their corporate headquarters out of Catalonia in the midst of a continuing political turmoil.
The new headquarters will be relocated in 4 Paseo de la Castellana, where the insurance company already has offices including those of its subsidiary Atradius. Catalana Occidente has not detailed yet whether the decision also entails the transfer of its fiscal headquarters.
The announcement came after the company echoed last week it would do everything necessary in order to protect the interests of its customers, shareholders and employees, while ensuring the entity remains operating under a stable regulatory framework.