Brexit inertia means London's finance workers face summer slump

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The weeks before Easter are usually some of the busiest of the year for bankers,...

LONDON - The weeks before Easter are usually some of the busiest of the year for bankers, lawyers and consultants in the City of London, as clients rush to get deals done before a run of public holidays.

The London Stock Exchange has had only one corporate listing in excess of 75 million pounds so far this year. Trading turnover on the London Stock Exchange in February and March was down a third from a year ago, and the lowest since August 2016. “There is going to be a long hiatus. Investors will need to see something far more positive in politics to be persuaded to move again,” Alastair Winter, economic adviser to Global Alliance Partners told Reuters.

Hakan Enver, Morgan McKinley Managing Director, said the figures showed confidence among City employers was flatlining. “People are not setting up new funds, are not hiring, firing, they’re not doing new deals because they’re just waiting for what’s happening with Brexit,” he told Reuters.

 

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