Banks move work from Germany to London!
Discussion
Yes that’s right who would believe that banks are moving work from Germany to London. That can’t be right I hear some cry BREXIT will destroy the city of London we are all doomed
No it’s Germany that has the issue because of the threat of no power this winter Banks are having to implement contingency plans and move work to London!!!
No it’s Germany that has the issue because of the threat of no power this winter Banks are having to implement contingency plans and move work to London!!!
cc3 said:
Yes that’s right who would believe that banks are moving work from Germany to London. That can’t be right I hear some cry BREXIT will destroy the city of London we are all doomed
No it’s Germany that has the issue because of the threat of no power this winter Banks are having to implement contingency plans and move work to London!!!
Are you referring to this article? https://www.telegraph.co.uk/business/2022/09/05/jp...No it’s Germany that has the issue because of the threat of no power this winter Banks are having to implement contingency plans and move work to London!!!
If so, "drawing up plans as a precaution" isn't the same as "implementing".
wombat172a said:
cc3 said:
Yes that’s right who would believe that banks are moving work from Germany to London. That can’t be right I hear some cry BREXIT will destroy the city of London we are all doomed
No it’s Germany that has the issue because of the threat of no power this winter Banks are having to implement contingency plans and move work to London!!!
Are you referring to this article? https://www.telegraph.co.uk/business/2022/09/05/jp...No it’s Germany that has the issue because of the threat of no power this winter Banks are having to implement contingency plans and move work to London!!!
If so, "drawing up plans as a precaution" isn't the same as "implementing".
wombat172a said:
Are you referring to this article? https://www.telegraph.co.uk/business/2022/09/05/jp...
If so, "drawing up plans as a precaution" isn't the same as "implementing".
Wait... Rabit brexiteer lied again? If so, "drawing up plans as a precaution" isn't the same as "implementing".
Colour me shocked.
wombat172a said:
Are you referring to this article? https://www.telegraph.co.uk/business/2022/09/05/jp...
If so, "drawing up plans as a precaution" isn't the same as "implementing".
Hadn’t seen that one not the great JP Morgan the Bank that said BREXIT would mean them moving all their jobs from London to Germany !! Why don’t they go to Milan or other great European financial centres like ???? Can’t think of any oh Paris what’s up with Paris. Oh of course London is still the main Financial Centre of Europe despite BREXIT. ! Hilarious If so, "drawing up plans as a precaution" isn't the same as "implementing".
cc3 said:
Yes that’s right who would believe that banks are moving work from Germany to London. That can’t be right I hear some cry BREXIT will destroy the city of London we are all doomed
No it’s Germany that has the issue because of the threat of no power this winter Banks are having to implement contingency plans and move work to London!!!
That proves it then, Brexit was a success !!No it’s Germany that has the issue because of the threat of no power this winter Banks are having to implement contingency plans and move work to London!!!
(please try harder next time)
cc3 said:
wombat172a said:
Are you referring to this article? https://www.telegraph.co.uk/business/2022/09/05/jp...
If so, "drawing up plans as a precaution" isn't the same as "implementing".
Hadn’t seen that one not the great JP Morgan the Bank that said BREXIT would mean them moving all their jobs from London to Germany !! Why don’t they go to Milan or other great European financial centres like ???? Can’t think of any oh Paris what’s up with Paris. Oh of course London is still the main Financial Centre of Europe despite BREXIT. ! Hilarious If so, "drawing up plans as a precaution" isn't the same as "implementing".
Source: I work at a bulge bracket firm in the City, have seen the numbers involved. It's an exodus of positions that used to be London-based, and is not good for UK PLC.
On the plus side, the (few, and mostly low-ranked) jobs in Moscow have mostly moved back here now.
CraigyMc said:
Source: I work at a bulge bracket firm in the City, have seen the numbers involved. It's an exodus of positions that used to be London-based, and is not good for UK PLC.
And how do the profits in those locations compare to the UK? Well done to the French - they took some of the low performers back to Paris (and only half as many as was forecast).fido said:
CraigyMc said:
Source: I work at a bulge bracket firm in the City, have seen the numbers involved. It's an exodus of positions that used to be London-based, and is not good for UK PLC.
And how do the profits in those locations compare to the UK? Well done to the French - they took some of the low performers back to Paris (and only half as many as was forecast).CraigyMc said:
I can't speak to rabid brexit or remainer nonsense either way, but I can tell you that I know for a fact that a lot [thousands] of jobs have moved from the City of London to Paris and to Frankfurt due to regulations imposed due to the UK now being a 3rd country rather than inside the EU. Mostly they are trading positions (high ranks), the lower positions are lateral hires locally in those countries.
Source: I work at a bulge bracket firm in the City, have seen the numbers involved. It's an exodus of positions that used to be London-based, and is not good for UK PLC.
On the plus side, the (few, and mostly low-ranked) jobs in Moscow have mostly moved back here now.
You mean those banks had such poor risk management practices they hadn’t seen the elephant in the room that Germany’s only real source of energy was from Russia and that one day Putin might use it to bring Germany to its knees ! No power not great for those big trading rooms !! How can this be the EU can surely do no wrong. Source: I work at a bulge bracket firm in the City, have seen the numbers involved. It's an exodus of positions that used to be London-based, and is not good for UK PLC.
On the plus side, the (few, and mostly low-ranked) jobs in Moscow have mostly moved back here now.
cc3 said:
CraigyMc said:
I can't speak to rabid brexit or remainer nonsense either way, but I can tell you that I know for a fact that a lot [thousands] of jobs have moved from the City of London to Paris and to Frankfurt due to regulations imposed due to the UK now being a 3rd country rather than inside the EU. Mostly they are trading positions (high ranks), the lower positions are lateral hires locally in those countries.
Source: I work at a bulge bracket firm in the City, have seen the numbers involved. It's an exodus of positions that used to be London-based, and is not good for UK PLC.
On the plus side, the (few, and mostly low-ranked) jobs in Moscow have mostly moved back here now.
You mean those banks had such poor risk management practices they hadn’t seen the elephant in the room that Germany’s only real source of energy was from Russia and that one day Putin might use it to bring Germany to its knees ! No power not great for those big trading rooms !! How can this be the EU can surely do no wrong. Source: I work at a bulge bracket firm in the City, have seen the numbers involved. It's an exodus of positions that used to be London-based, and is not good for UK PLC.
On the plus side, the (few, and mostly low-ranked) jobs in Moscow have mostly moved back here now.
- flounce*
king mental and the internet has given you a weird (dimly lit) stage.CraigyMc said:
You'd have to take that to the people building out businesses in the EU to size it, but they'd not be doing it if there wasn't money in it.
They are getting tax breaks and other incentives. Most of their bankers would rather live in South Kensington than Paris. Also not being spread out amongst competing cities like Paris and Amsterdam is advantageous to London.The South East is surrounded by contingency offices for financial institutions, insurers etc. I sometimes go to work at one in Kings Hill near me. Very quiet, rows upon row of deskspace, a small fleet of ultra low mileage minibuses that are started up weekly for maintenance and kept to pick up workers from the local train station.
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