Credit Suisse to move 250 jobs out of London due to Brexit

http://www.bbc.co.uk/news/business-43199979

Credit Suisse will be moving 250 investment banking jobs out of London as part of its Brexit planning. Other banks such as JP Morgan, Goldman Sachs and Deutsche Bank have also considered moving jobs out of London.

Looks like the full force of Brexit on financial services jobs (one of the UK's biggest exports and a provider of hundreds of thousands of high paid jobs) is starting to be felt and yet there is still so much that is uncertain. The financial services industry is highly dependent on having tariff-free trade with the EU, and a common regulatory and passporting system, and many large financial services firms have London as a hub for their services across Europe.

It seems inevitable that Brexit is going to damage the UK economy and lead to jobs moving abroad as firms seek to retain access to tariff-free trade with the EU, at least for the short term.

http://www.bbc.co.uk/news/business-43199979

Credit Suisse will be moving 250 investment banking jobs out of London as part of its Brexit planning. Other banks such as JP Morgan, Goldman Sachs and Deutsche Bank have also considered moving jobs out of London.

Looks like the full force of Brexit on financial services jobs (one of the UK's biggest exports and a provider of hundreds of thousands of high paid jobs) is starting to be felt and yet there is still so much that is uncertain. The financial services industry is highly dependent on having tariff-free trade with the EU, and a common regulatory and passporting system, and many large financial services firms have London as a hub for their services across Europe.

It seems inevitable that Brexit is going to damage the UK economy and lead to jobs moving abroad as firms seek to retain access to tariff-free trade with the EU, at least for the short term.

It might bring down London house prices which will be a good thing

You are plucking one figure out of the air.

Investment last year into the UK was the highest it has ever been despite the Brexit vote. Investment suggests many companies still see the UK as a highly attractive economy in the long run, regardless of Brexit.

Stats from the ONS show investment was £25 billion in 2015 vs £145 billion in 2017.

You are plucking one figure out of the air.

Investment last year into the UK was the highest it has ever been despite the Brexit vote. Investment suggests many companies still see the UK as a highly attractive economy in the long run, regardless of Brexit.

Stats from the ONS show investment was £25 billion in 2015 vs £145 billion in 2017.

It seems inevitable that Brexit is going to damage the UK economy and lead to jobs moving abroad as firms seek to retain access to tariff-free trade with the EU, at least for the short term.

Oh you are such a doom mongerer. After Brexit we will be able to make trade deals with Jamaica and The Gambia. We have everything to win!

fewer bankers.... surely that is great news... rejoice !!

Lol, many of the hardest Brexiteers seem to think that being realistic about the effects of leaving the EU on the economy equates to being unpatriotic and pessimistic.

Agreed. The problem for the Brexiteers is they don't seem to be able to tell us what Brexit looks like. They can tell us what it won't look like. It isn't going to be like Mad Max which is good because I was worried for a time.

Those bankers will find new jobs, I guarantee it. They're more than experienced enough to do so.

The current rate of unemployment is 4.3% - one of the lowest rates we've seen in decades - and has only been going down since the Brexit vote.

It actually rose by 46,000 in mid-Feb, first rise in five years.