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.
More than 3,000 staff have either relocated or had new jobs created in the Grand Duchy due to Brexit, according to Finance for Luxembourg.
It is too early to tell if Britain’s financial rules post-Brexit will diverge too far from European Union norms to consider giving it access to the bloc’s markets, a senior EU official said on Tuesday.
The UK has seen investment from overseas collapse in the past two years, underscoring its diminishing allure as a global business destination since Brexit, revised United Nations data show.
The UK has signed a pact with the EU to increase co-operation on financial services. / It will set up a forum where the EU and UK can meet twice a year to discuss financial regulation and standards.
Goldman Sachs bolstered the number of staff working in the European Union by 21% last year, as Brexit continues to reshape banks' operations on the continent.
The European Commission has adopted a draft memorandum of understanding to create a framework of financial services regulatory cooperation with the UK.
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.
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.
Almost 40% of surveyed firms have opened offices outside the UK, the majority in the EU. / UK FinTech firms who predicted in 2018 that they would partly relocate their UK operations to the European Union after Brexit have largely followed through with their plans, according to new research published today in the journal Advances in Economic Geography.
'Appalling timing’, recruitment difficulties, ‘no positives’… Jersey's main industries give their verdicts on Brexit
06/02/2023
Hospitality, retail and farming leaders all highlighted that Brexit had delivered more challenges than opportunities for the Island. They said it had created ‘more red tape’ and meant fewer European employees staying to work in Jersey.
Private equity veteran Guy Hands says Boris Johnson ‘threw the country and the NHS under the bus’.
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.
The UK and European Union are poised to enter the final stretch of negotiations over post-Brexit trading arrangements for Northern Ireland. After years of distrust and tension both sides are optimistic that a settlement is within reach.
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.
UK defends new post-Brexit finance reforms
09/12/2022
Britain on Friday launched a post-Brexit plan to relax curbs on its powerhouse City sector introduced after the 2008 financial crisis, denying the reforms will bring about new instability.
THE Tories are risking a repeat of “the catastrophe of the financial crash in 2008” by cutting back on the safeguards placed on banking in its wake, the SNP have warned.
Chancellor Jeremy Hunt has been accused of encouraging a “race to the bottom” after he unveiled ‘big bang’ plans to slash City red tape.
Battle focuses on what EU sees as bloc’s over-reliance on London’s clearing houses handling euro-denominated derivatives.
This is the latest move in an ongoing battle from EU regulators to ensure more financial services business moves back to the bloc after the UK's split with the EU.
Stock market listings outside of London are the 'new normal', Stephane Boujnah said, citing Ryanair favouring Dublin trading over London
The European Union published three draft laws today to lift economic growth by deepening its capital market through less reliance on post-Brexit London, cutting red tape on company listings and streamlining insolvency rules.
The boss of Europe’s largest exchange group took a swipe at the UK capital, saying Brexit means it is no longer Europe’s dominant financial center.
The European Union published three draft laws on Wednesday to lift economic growth by deepening its capital market through less reliance on post-Brexit London, cutting red tape on company listings and streamlining insolvency rules.
Goldman Sachs Group Inc. is shifting some of its euro swaps trading desk to Milan from London, the latest example of roles moving to the continent after Brexit.