Comments (14)

 
Feb 22, 2021 - 4:34pm

I see no point in scattering them across Europe or relocating them to say Frankfurt. London will remain the European HQ for most US banks / boutiques and a big hub for EU firms. It will just be a different legal entity formally engaging with the client (JPM AG in Germany for example) I guess.

 
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  • Associate 1 in IB - Ind
Feb 22, 2021 - 8:01pm

As per the brexit agreement:

(1) FIG M&A deals will be executed by Swiss teams

(2) Industrials by the German

(3) Consumer, Telco and IT services by the French

(4) Leisure by the Spanish

(5) Gambling by the Romanians

(6) Shitty industrials deals + partly consumer (food) by the Italians

(7) LevFin / Distressed by the Greeks

 
Feb 23, 2021 - 6:53pm

Askingquestionssss

I mean, the banks always stress diversity so they should appreciate this!

On a serious note, I believe that a brexit deal regarding financial services is still to be made, right?

I think that any agreement will not be enough to keep things as they are. The EU has a lot to gain if things were much harder post Brexit as most of the industry (if not the vast majority) is in London. Basically the EU would be sacrificing getting a slice of the UK cake for the ability to access the UK market ( which on its own depends a lot on the EU)

 
Feb 23, 2021 - 3:37am

Banks will still execute deals with London teams, but for IPO/ECM/DCM they might do it with a different legal entity. Some IB services like M&A don't require licenses in certain European countries so it doesn't matter that the bank is non-EU. 

I don't know... Yeah. Almost definitely yes.

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  • Intern in IB - Ind
Feb 23, 2021 - 5:00am

Continental Europe deals are executed jointly by the London-based industry team and the local regional team at my BB

 
Feb 24, 2021 - 3:18pm

From what I've heard, for all the advisory work (M&A, advisory side of ECM and DCM...etc) it can be done from the UK as long as the chaperone or the senior that brings the deal is not based in the UK.

S&T and "markets" side of ECM/DCM (so the execution once the client has decided to go with a rights issue of X size for example) HAS to be done from Europe

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