Paris, Frankfurt and Dublin are most successful in luring roles from UK, say consultants
A new survey shows that since the Brexit referendum, Dublin remains the most popular destination for staff relocations and new European hubs or offices.
More than 7,000 finance jobs have moved from London to the European Union as a result of Brexit, down 400 from the total anticipated in December, consultants EY said on Tuesday.
The UK financial regulator had already warned that cash machine withdrawals could become more expensive for UK cardholders in Europe after the transition period.
Banks may continue to drift away from London if the European Central Bank intensifies its scrutiny of their presence in the bloc, the Bank of England’s deputy governor said.
It will be years before the full impact of Brexit on Britain's financial sector is fully known as more activity could leave London for the bloc or other centres like New York, Bank of England Deputy Governor Jon Cunliffe said on Monday.
Xavier Rolet says ‘boat has sailed’ on London clearing amid Brexit battle for trillion-euro business 23/02/2022
Mairead McGuinness, European commissioner for financial stability, financial services and the capital markets union, says Brexit equivalence on clearing is over in 2025.
Brexit Opportunities Abound – Part 1 16/02/2022
As you may have noticed Jacob Rees Mogg Esquire – as no doubt he would style himself – has invited the public to submit suggestions on the theme of ‘Opportunities of Brexit’. I could not resist replying. Could I possibly suggest that you, after reading this, do the same?
The European Commission’s financial services head insisted that U.K. clearinghouses will get no further access to the bloc’s markets after 2025, knocking back the Bank of England governor’s calls for an indefinite trade route into the European Union.
International banks in the UK are under increasing pressure to tighten up compliance with post-Brexit rules amid a regulatory review.
Mandatory clearing of derivatives contracts by pension funds in the European Union should start in June 2023, helping the bloc to cut reliance on London, the EU's securities watchdog said on Tuesday.
New rules over corporate lending and market trading mean EU rivals may soon have a competitive advantage.
€200bn moved across Irish Sea since Brexit: Balance sheets of global banks in Dublin swell to record €500bn 19/01/2022
The Irish balance sheets of a range of global banks that run international operations from Dublin has ballooned to more than half a billion euros.
Large banks with international operations run from Ireland have seen a huge increase in their Irish balance sheets as a result of Brexit.
Ireland moves up global, EU rankings as banks relocate post Brexit.
The balance sheets of Ireland’s biggest banks have risen by two thirds since the Brexit vote, the latest data to demonstrate how Europe’s financial landscape is shifting following the U.K.’s departure from the European Union.
The Irish balance sheets of large systemically important banks with international operations run from Ireland have grown by as much as €200bn since the UK voted to leave the EU six years ago, a study has found.
“You could interpret this as the UK having less reach in future," a finance expert has said.
Brexit passporting: Little appetite among EU finance firms to stay in London as FCA applications disappoint 30/12/2021
It appears that many European financial services firms are not interested in continuing to be authorised in the City, as only half of EU firms that were given a temporary license to operate in the UK – immediately after Brexit – have applied for full authorisation, a Freedom of Information request has revealed.
The French capital has gained one year on from Brexit, but cities such as Dublin, Amsterdam and Frankfurt have also emerged as winners.
Tracker from EY finds 44% of big UK financial services players are moving staff to bloc or considering it.
The difficulties of relocating staff during a pandemic has postponed some finance jobs from moving out of London and into the European Union, according to EY.
Talks to give U.K. financial services firms access to the European Union’s single market after Brexit have been put on hold, according to a government minister.
We have been tracking the impact of Brexit on the banking and finance industry in the UK over the past few years, and our latest report makes for pretty sobering reading.
The boss of the UK’s largest bank has warned banks and their clients will have to swallow higher costs if Brexit fragments the European financial market.