Brexit has caused very few finance jobs to leave London

  • 📰 TheEconomist
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 92%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

EY reckons that 7,600 roles have moved from Britain to the EU since Brexit. That compares with 1.1m jobs in the financial-services sector as a whole

Four years on, the version of Brexit for which the government opted has been harder than that in most City bosses’ nightmares. An industry that contributes 7% of Britain’s. Almost immediately, Amsterdam’s stock exchanges unseated London’s as the primary venues for European share trading. Over the course of January, London’s derivative-trading platforms lost three-quarters of their euro volumes to Amsterdam and New York.

Meanwhile, banks are mostly moving as few jobs as they can to satisfy regulators. That includes some senior staff, salespeople, traders, risk managers and compliance. But of the ten banks asked byabout their plans, none said they intended to shift people in numbers greater than the low hundreds. JP Morgan, whose parent company’s chief executive warned in 2016 that Brexit could cause the bank to cut 4,000 of its British jobs, will have moved fewer than 400 by the end of 2021.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

London Stock Exchange still number one? Oops.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines