Several u.s. banks are now considering moving the business from London, as a result of the british the decision of the referendum to leave the EU. Among the banks with flyttplaner are among the other heavyweights Goldman Sachs, Morgan Stanley and JP Morgan, according to multiple media.
Goldman Sachs is considering to move about 2,000 jobs from the Uk to any other european city, if the Uk loses the right to the so-called EU-joining that simplifies banking operations across national borders. It writes the Sunday Times.
At a meeting of the International financial Institution this past weekend said Morgan Stanley ceo James Gorman, according to the tv-channel CNBC’s online edition, that he sees New York as the big winner after the Brexit. James Gorman said the bank now has to choose between creating a new european headquarters outside the Uk, or just move on some selected activities.
In the same conference was also attended by JP Morgan’s ceo Jamie Dimon. According to the Financial Times await JP Morgan on some clarification announcement which is expected to be crucial for the decision whether to leave or not to leave London.
Generous laws and regulations for employees in both Germany and France is seen by many overseas banks as problematic. France announced recently a drastic simplification of the rules for registering financial companies, which may be one of several measures to attract companies in the sector if London becomes less attractive.
But despite the social rules appear to be Germany and especially Frankfurt as the likely winner of the Brexit. According to the Financial Times, over 70 per cent of the union’s ten largest banks and 60 percent of the largest insurance companies already have headquarters or subsidiaries in Frankfurt, Munich or any other German city.
as regards the banking sector, according to the newspaper, Frankfurt’s main rivals in the tour and the order of the Luxembourg, Dublin and Paris.
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