Brexit DOOM™:  Bloodbath in the City Brexit DOOM™: Bloodbath in the City
Page 1 of 2 12 LastLast
Posts 1 to 10 of 18
  1. #1

    My post count is Majestic

    AtW is a fount of knowledge

    AtW's Avatar
    Join Date
    Jul 2005
    Posts
    51,446

    Default Brexit DOOM™: Bloodbath in the City

    Leading City firms begin to lay groundwork for London jobs exodus

    "A growing number of leading City firms have revealed they are now laying the groundwork for an exodus of thousands of jobs from London after Britain’s vote to leave to EU.

    Just a day after Theresa May formally triggered the process for Brexit it was confirmed that the insurers Lloyd’s of London and Royal London are setting up subsidiaries outside the UK, while the investment banks JP Morgan and Citigroup are actively exploring the relocation of key operations.

    Luxembourg also threw its hat into the ring in the battle to attract the European Banking Authority, which employs 159 people at Canary Wharf in London. Frankfurt and Paris also want to host the organisation.

    JP Morgan is in talks to buy an office building in Dublin big enough to hold more than 1,000 workers, increasing speculation that it will move a substantial number of jobs from London as a result of Brexit. Citigroup said it was planning for a hard Brexit that would require “relocating certain client-facing roles to the EU from the UK”."

    https://www.theguardian.com/business...bs-city-london

  2. #2

    Banned

    diseasex has more data than eek


    Join Date
    May 2015
    Location
    Manchester
    Posts
    1,990

    Default

    Bremoaners speculations

  3. #3

    Super poster

    The_Equalizer is NOT a disguised employee

    The_Equalizer's Avatar
    Join Date
    Dec 2005
    Location
    Back end of UK PLC
    Posts
    2,569

    Default

    Quote Originally Posted by diseasex View Post
    Bremoaners speculations
    It's a bit of a classic as I've never thought The Guardian as a champion for City jobs.

  4. #4

    Old Greg is my bitch's bitch

    northernladyuk is a fount of knowledge

    northernladyuk's Avatar
    Join Date
    Nov 2011
    Location
    Working the streets of your imagination
    Posts
    9,460

    Default

    There's a fair amount of optimism in Dublin that some of this business will be picked up, but there are some real infrastructure / housing problems so the fear is that otherwise winnable opportunities will be lost to Frankfurt etc. Oddly, there doesn't seem to be any fear that it's all a load of rot and jobs will stay in London.
    Where there's muck there's brass.

  5. #5

    Old Greg is my bitch's bitch

    northernladyuk is a fount of knowledge

    northernladyuk's Avatar
    Join Date
    Nov 2011
    Location
    Working the streets of your imagination
    Posts
    9,460

    Default

    Quote Originally Posted by The_Equalizer View Post
    It's a bit of a classic as I've never thought The Guardian as a champion for City jobs.
    Brexit Pravda this way if you prefer talking the economy up: Benefits of Brexit will outweigh the loss of a small number of City jobs

    Tractor production is also at record highs.
    Where there's muck there's brass.

  6. #6

    Super poster

    The_Equalizer is NOT a disguised employee

    The_Equalizer's Avatar
    Join Date
    Dec 2005
    Location
    Back end of UK PLC
    Posts
    2,569

    Default

    Quote Originally Posted by northernladyuk View Post
    There's a fair amount of optimism in Dublin that some of this business will be picked up, but there are some real infrastructure / housing problems so the fear is that otherwise winnable opportunities will be lost to Frankfurt etc. Oddly, there doesn't seem to be any fear that it's all a load of rot and jobs will stay in London.
    I always find David Buik's thoughts worth a look:

    David Buik

    Admittedly for Brexit, he did have this to say:

    "In closing BREXIT is a total red-herring. London is the most influential centre in Europe by far in terms of trading and M&A activity and having spent 70 years building infrastructure it is not going to be allowed to be usurped by Frankfurt, Paris, Dublin or anywhere else. Negotiations will be fierce over ‘passporting’ but good sense has to prevail, however painful. London is pre-eminent at financial services – fact. Some banks may move staff for a year or so. They will return. Why? London is where it is at. Not arrogance but fact!

    Will there be another replication of the 2008 banking crisis? One hopes not. However it’s the bond market that concerns me. Is the regulation of large bond operators draconian enough?"

    I guess time will tell.

  7. #7

    Old Greg is my bitch's bitch

    northernladyuk is a fount of knowledge

    northernladyuk's Avatar
    Join Date
    Nov 2011
    Location
    Working the streets of your imagination
    Posts
    9,460

    Default

    Quote Originally Posted by The_Equalizer View Post
    I always find David Buik's thoughts worth a look:

    David Buik

    Admittedly for Brexit, he did have this to say:

    "In closing BREXIT is a total red-herring. London is the most influential centre in Europe by far in terms of trading and M&A activity and having spent 70 years building infrastructure it is not going to be allowed to be usurped by Frankfurt, Paris, Dublin or anywhere else. Negotiations will be fierce over ‘passporting’ but good sense has to prevail, however painful. London is pre-eminent at financial services – fact. Some banks may move staff for a year or so. They will return. Why? London is where it is at. Not arrogance but fact!

    Will there be another replication of the 2008 banking crisis? One hopes not. However it’s the bond market that concerns me. Is the regulation of large bond operators draconian enough?"

    I guess time will tell.
    A bit of strawmanning I think. Has anyone said Dublin will usurp London?

    But it is about numbers of jobs moving and new investment decisions. Each 1,000 jobs lost means a loss to the economy not just of those jobs but service sector jobs etc. - you know the drill.
    Where there's muck there's brass.

  8. #8

    Super poster

    The_Equalizer is NOT a disguised employee

    The_Equalizer's Avatar
    Join Date
    Dec 2005
    Location
    Back end of UK PLC
    Posts
    2,569

    Default

    Quote Originally Posted by northernladyuk View Post
    A bit of strawmanning I think. Has anyone said Dublin will usurp London?

    But it is about numbers of jobs moving and new investment decisions. Each 1,000 jobs lost means a loss to the economy not just of those jobs but service sector jobs etc. - you know the drill.
    Indeed, but the number of jobs isn't fixed. Good luck to Dublin if it can pick up some business. AtW's 'bloodbath' might be a bit OTT though.

  9. #9

    Better than AtW

    sasguru - scorchio!


    Join Date
    Jul 2005
    Posts
    35,976

    Default

    Quote Originally Posted by The_Equalizer View Post
    I always find David Buik's thoughts worth a look:

    David Buik

    Admittedly for Brexit, he did have this to say:

    "In closing BREXIT is a total red-herring. London is the most influential centre in Europe by far in terms of trading and M&A activity and having spent 70 years building infrastructure it is not going to be allowed to be usurped by Frankfurt, Paris, Dublin or anywhere else. Negotiations will be fierce over ‘passporting’ but good sense has to prevail, however painful. London is pre-eminent at financial services – fact. Some banks may move staff for a year or so. They will return. Why? London is where it is at. Not arrogance but fact!

    Will there be another replication of the 2008 banking crisis? One hopes not. However it’s the bond market that concerns me. Is the regulation of large bond operators draconian enough?"

    I guess time will tell.
    Why should good sense prevail? History is rife with situations where good sense did not prevail.
    Hard Brexit now!
    #prayfornodeal

  10. #10

    Super poster

    The_Equalizer is NOT a disguised employee

    The_Equalizer's Avatar
    Join Date
    Dec 2005
    Location
    Back end of UK PLC
    Posts
    2,569

    Default

    Quote Originally Posted by sasguru View Post
    Why should good sense prevail? History is rife with situations where good sense did not prevail.
    Perhaps you should go and ask David Buik?

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •