The Square Mile and the EU 03/12/2023
The man who speaks for the City knows the bankers can’t do without Europe.
Cap on bankers' bonuses to be scrapped 24/10/2023
The cap on bankers' bonuses is being removed as part of a post-Brexit shake-up of UK financial rules, it has been confirmed.
Cap on bankers’ bonuses to be scrapped next week in post-Brexit shake-up of financial rules 24/10/2023
Bankers’ bonuses are currently capped at 100 per cent of their annual salary, or double that with shareholder approval.
Wealth managers seeking new bases from which to serve European clients have landed on Luxembourg, with the Grand Duchy seen as a natural successor to London.
Brussels’ former Brexit chief urges collaboration on shared challenges and reflects on tumultuous talks.
Anti-Brexit campaigner Gina Miller was told a bank account for her political party would close without explanation.
At least 10 banks, building societies and credit card firms have now decided to close accounts held by Brits living abroad in Europe as a result of Brexit, MoneySavingExpert.com has found – with Nationwide and Co-op Bank among the latest to announce closures. We've full info below on what banks are doing, plus help on what to do if you're affected.
The success of Paris in luring banks from London after Brexit has exceeded expectations and is increasingly reflected in France’s balance of payments, the central bank said.
The shift of banking activities to Paris from London after Brexit is starting to have a measurable impact on France’s trade in financial services, and the dynamic is likely accelerate, according to the country’s central bank.
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.
The ECB has met with banks in recent weeks, who have now been told which staff need to move over the next few years to meet new Brexit rules.
Barclays PLC is planning to hire 200 new traders in Paris in a fresh blow to the Square Mile in the wake of Brexit.
Barclays Plc expects to increase its headcount in Paris by about two thirds in the next two to three years, as the French capital increasingly becomes the main trading hub in continental Europe for global lenders after Brexit.
The financier and former Tory donor says leaving the EU was a plan by the rich to make themselves richer and the poor poorer.
Citigroup Inc. is preparing to shift more business into the European Union on the back of fresh guidance from regulators this week, a top banker in the region said.
The men behind Trussonomics and Brexit, the two great man-made catastrophes of recent years, are to be honoured for their ‘great work’.
The last week of upheaval in the banking world is proof of the importance of a competitive landscape; we must do more to ensure a level playing field for smaller banking players, writes Karen Bradley.
A whole host of issues arising from the UK's departure from EU are still unsolved after the latest Budget, City commentators note. / Issues ranging from the future of the government's rulebook and the banker bonus cap to London's status as a listings venue and a regulatory deal with the EU were not referenced in Hunt's 15 May speech, City leaders have noted.
Trade body Make UK adds to pressure on Rishi Sunak as it calls for reset of relationships with Europe. / Business leaders say frayed relations with the EU are costing the British economy, as suppliers in the bloc grow more cautious about doing business with post-Brexit Britain.
New banking regulations could increase the cost of small business lending by around a third and “fundamentally change” the market as debate around the implementation of international banking rules in the UK intensifies.
Senior Italian government officials say that the economic and social turbulence in Britain that has followed the withdrawal from the EU has been eye-opening, writes Kim Sengupta.
A POST-BREXIT “bonfire of banking rules” planned by the UK Government risks driving up food and energy prices even further, campaigners have warned.
Europe’s top securities watchdog wants London-based hedge funds and asset managers to prove they have built up a presence in the European Union after Brexit.
Brexit drives higher salaries for EU bankers 20/01/2023
The number of EU bankers earning more than €1 million increased significantly in 2021, according to research by the European Banking Authority (EBA). / The regulator said that the hike in salaries was directly linked to relocations of staff from the UK to the EU following Brexit, as well as improved investment banking and trading sales, and a general increase in salaries.
Lyonnaise de Banque becomes the first to have their licence revoked after the UK's split with the EU.