Has Brexit caused significant move to the continent? Will it?
I was curious as to if London would truly cease to be the financial capital of EMEA or not. Have the big banks made significant moves of their staff to European office like FFM and Paris, or not as much? Since Brexit is only like 2 years old (properly leaving), is there more pain to come? Will there be further relocations of staff abroad - and if so, who is it that would be moved?
Brexit is not 2 years old - it is 6 years old. The key strategic decisions were made well in advance, not the moment we left the EU. Before the vote, PwC estimated that 100,000 financial jobs would be lost. The figure ultimately reached about 7,000.
Wouldn’t call it a big move, but you do see firms that slowly but surely are hiring more across the continent. For example summer analyst positions in S&T at BAML and JPM are almost 50% / 50% split between London and Paris. Lots of IB and Cap Mkts internships in Paris as well which follow the EMEA recruiting process (you don’t need to speak French to get one). None of this existed before Brexit
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