Is it a good thing investment banking/PrivateEquity/Hedge Funds are located inLondonWatch
Is it a good thing investment banking/PrivateEquity/Hedge Funds are located in London? Does anyone think these apart from back office functions (Deutsch Bank in Birmingham, JP Morgan in Bournmouth, BNY Mellon in Manchester, BofA Merrill Lynch in Chester maybe someone can tell me the other regional offices) should be spread more around the country? Since there has been debate in the media in the past that too much of the financial services industry is based in London and the South East.
Co-op Bank in Manchester
HBOS in Halifax and Edinburgh
RBS in Edinburgh
Northern Rock in Newcastle
Presbyterian Mutual in Belfast
Was/is Northern Rock, Presbyterian Mutual HBOS Investment Banks though? Out of all of them as far as I know only RBS has an investment banking arm. Did they have front office investment banking positions outside London and you would not really call them a major investment banking player in Europe despite the ABN AMBRO purchase compared to Barclays Capital/Investment bank or Deutsche bank, Credit Suisse or UBS.
Thats the way way Economy works my dear.......
Hmm read in The death of gentlemanly capitalism that before the big bang some UK investment banks or "merchant banks" as the Brits called them then had offices in Birmingham. what do we have here now some boutiques that you can count on one hand and no major ones at that.
IMO it's bad for the nation to be too dependent on financial services and it's bad for the nation to have london running away with all the growth.