Swissquote Group Holding SA will likely shift its European retail business from London to Luxembourg following Brexit.
While Britain braces for its exit from the EU in March 2019, HSBC announced on Monday that seven of its Europe-focused offices will move from London to Paris early next year.
Morgan Stanley Chief Executive Officer James Gorman said the bank expects to move 400 to 500 jobs out of the U.K as the nation breaks from the European Union. / “It’s net negative, there’s nothing particularly good about Brexit.”
Bank of America's Brexit bill hits $400m
13/02/2019
Bank of America has spent around $400m on preparing for Brexit, which has seen the bank move some operations from London to Dublin and Paris.
Bank taking steps to avoid disruption but said Brexit could lead to higher costs if a restructure becomes necessary.
UK bank preparing of economic slowdown and rising unemployment
More than 275 financial firms are moving a combined $1.2 trillion in assets and funds and thousands of staff from Britain to the European Union in readiness for Brexit at a cost of up to $4 billion, a report from a think tank said on Monday.
Banks, asset managers and insurers have already moved nearly £1 trillion of assets out of the UK and to other European countries ahead of Brexit, with more likely to be shifted in coming months, according to new research.
More than 275 financial firms are moving a combined $1.2 trillion (£925 billion) in assets and funds and thousands of staff from Britain to the European Union in readiness for Brexit at a cost of up to $4 billion, a report from a think tank said on Monday.
The financial industry has started to trigger its contingency plans as a no-deal Brexit looks increasingly likely with just days to go until Brexit.
Falling business volumes, a sharp decline in jobs and a ‘national emergency’ have damaged bankers’ confidence.
JPMorgan Chase & Co. is pushing about 300 London-based investment banking staff to sign fresh contracts confirming they’ll leave the U.K. in the event of a no-deal Brexit, people familiar with the matter said.
In the political realm, no one knows how Brexit’s long-running theater of the absurd will end. But for much of the business world, Britain’s departure from the European Union has effectively happened.
"Upwards of £1 trillion" is being taken out of the UK and transferred to Europe - C4 News
04/04/2019
Our Economics Correspondent @HeliaEbrahimi explains how no-deal Brexit preparations are impacting the UK economy.
The European Banking Authority Leaves London
31/05/2019
Yesterday, May 30, an important part of London’s influence in the European financial world quietly slipped away. The European Banking Authority (EBA) closed its Canary Wharf office. There was no press release, no news report, only a statement on its website giving its new address. On Monday, June 3, it will re-open in Paris, France.
Cross-border data show 30% fall in capital entering UK since referendum. / Brexit uncertainty in the UK has boosted foreign investment into the EU’s other 27 countries in the three years since the referendum, according to a Financial Times analysis.
City financial firms have so far committed to move at least 7,000 jobs and £1 trillion of assets out of the UK to prepare for Brexit, with the true cost likely to be higher, research has found.
Banks in Britain are showing signs of restarting preparations for a no-deal Brexit after a lull in the shift of financial services jobs and capital from Britain to the European Union in the past few months, consultants EY said on Wednesday.
Stability report says about half of EU companies using UK-registered banks face being cut off.
The European Union is set to block some countries from accessing parts of the bloc’s financial market for the first time...
To avoid unfair competition, the bloc's markets regulator promises to closely examine British-based financial firms.
A post-Brexit deal should make it easier to build supermarkets, avoid tax and sue the UK, US business lobbyists say.
Croatia’s prime minister, Andrej Plenković, hinted at move to ensure level playing field.
UK could trade its fishing rights for financial services access after Brexit, EU trade chief suggests
14/01/2020
Britain could end up giving EU fishing fleets access to its waters in exchange for favourable terms on the continent for City financiers, the bloc's trade chief has suggested.