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'JPMorgan ... moving around €200 billion euros ... from the U.K. to Germany ... Here's why' - Bloomberg
23/09/2020
JPMorgan, the biggest U.S. bank, is moving around €200 billion euros ($230 billion) from the U.K. to Germany as a result of Britain’s exit from the EU. Here’s why.
Deal or no deal, here are the issues that need fixing by March 29.
Move by UK regulator seen as limiting relocation to EU’s financial centres.
Mark Carney sets 14 July deadline to see plans, saying firms must prepare for ‘all eventualities’ as he calls on politicians not to cut City adrift from Europe
Specialist expat financial planner Blevins Franks is reporting that it is seeing a large increase in the number of UK IFAs enquiring about a move to Europe, spurred by passporting barriers post-Brexit.
Brexifornia: Checking out but never leaving
08/06/2020
Brexit will never be over.
Welcome to the first in a series of articles which will examine the impact of Brexit on the financial service sector. The aim of these posts is to explain how being outside the EEA will impact key financial service sectors such as asset management, banking and insurance.
Croatia’s prime minister, Andrej Plenković, hinted at move to ensure level playing field.
Brexit means Brexit for the City of London
16/02/2021
As of 2021 UK financial firms lost access to the EU single market and now need regulatory equivalence to do business on the continent. Brexit really does mean Brexit for the City of London, writes John Ryan (LSE).
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.
A week ago the UK fully left the EU. The moment we all campaigned against, warned about and feared the consequences of became reality – and it’s every bit as bad as forecast.
Brexit strips expats of UK bank accounts
20/09/2020
Lloyds and Barclays say without a deal they cannot afford to keep EU-based customers.
House of lords says ‘significant challenges remain’ for the financial services sector.
Swissquote Group Holding SA will likely shift its European retail business from London to Luxembourg following Brexit.
The European Union is ready for every type of Brexit, including granting no further EU access to Britain’s financial sector, the bloc’s candidate for financial services chief said in a document seen by Reuters.
How Brexit stuffed the City
14/06/2023
The banks pay huge amounts of tax. If they lose business, then Britain’s economy will suffer.
US bank JP Morgan is buying a landmark office building in Dublin in a significant boost for the Irish capital as European cities compete to lure financial institutions away from London in the wake of the Brexit vote. The new premises will be able to house 1,000 staff.
Major banks are preparing to shift parts of their operations away from London as Theresa May is set to trigger Article 50.
Equivalence permits for UK financial services unlikely to be ready by January 1st.
Paris today launched a major campaign to lure London’s financial firms across the Channel after Brexit. / More than 80 key business bosses, who were gathered at the Shard in central London, were told that the French capital could offer “stability” as the only “global city” that will be left in the EU when Britain quits.
Coutts & Co., the private U.K. bank that counts Queen Elizabeth II among its clients, has warned customers within the European Economic Area that it can no longer offer them mortgages due to Brexit.
According to financial experts, EU rules will force UK banks to cancel accounts and credit cards of any expat that does not have a UK address.
UK insurer exodus ‘exacerbates’ difficulties facing dwindling number of homeowners.