I will be graduating from a semi target by 2020 and as the banks like Nomura and Morgan Stanley are shifting their operations to Frankfurt, I am quite afraid of the future of London banking and how it's gonna affect the job opportunity. What do you guys think about London as a financial hub? I guess Paris can't be the next London atleast in a couple of years due to socialism and other factors and Frankfurt is soo small to take what London has been doing for years and it will be a nightmare for them and Amsterdam has a potential but not sure whether banks will be Ready for that challenge.
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Where in EU should Big Wall Street banks in London transfer to after Brexit? (Originally Posted: 06/28/2016)
I’m pretty sure top bank executives have been busy on their own ‘exit plans’ WAAAY before the referendum vote last Thursday cemented Britain’s exit from the European Union. They’re the sort of people that prepares contingency plans FOR contingency plans.
Source: Wall Street bankers in London ponder life post BrexitBut WHERE exactly are they planning to move their operations to?
I don’t think they have a lot of choices beyond these four:
Which one do you think is the best alternative for affected bankers in London? Do you have any other suggestion aside from the above?
They shouldn't. If they throw a temper tantrum and move offices outside of the EU they will only be hurting themselves.
As per Armstrong:
He's not wrong. If you've been watching the markets for the past few years then you would know that the EU has been aggressively cracking down on the movement of money within the EU, even to the point to where they are trying to figure out how to outlaw both cash and short-selling. You would also have noticed that there have been massive capital outflows from Europe to the USA.....THAT is why stock market valuations are so high. It has nothing to do with "fair value" or investors anticipating growth. It's money trying to escape the conditions in the EU by one of the few means that isn't blocked by "money laundering" laws.
By moving outside the EU, the UK stands to benefit from capital fleeing the EU....and large capital inflows, should the UK transition and manage it well, will mean that London investment banks will have a good time.
London and the UK will continue to be attractive locations. And until exit is complete it is nothing but a more likely possibility. Germany has made statements suggesting that it feel that the referendum outcome does not mean inevitable separation. In the meantime it seems a good opportunity to capitalize on knee-jerk price drops.
Perhaps the more interesting question is: If the Brexit occurs will Scotland separate? Then perhaps Edinburgh becomes the in EU financial city of importance... Just thinking aloud.
crimea
You forgot Milan
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