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Brexit and banking (markets) jobs

2

"As someone wanting to work in the markets division of a bank, am I ****ed? Since Brexit means that apparently banks are moving salespeople and traders and middle/back office guys as well.
I heard that MS and the European banks are already making plans to move their markets business elsewhere away from London.

What else can I go into?"

(Asking for a friend/person-who-asked-me-for-advice here. Wrote exactly what he messaged me)

Reply 1

Maker

20

Tell him/her to learn German or French and get an Irish passport if possible.

Reply 2

hoping4thebest

OP

2

Original post

by Maker

Tell him/her to learn German or French and get an Irish passport if possible.

Yeah he could actually. Thanks
But he's looking at alternate careers too

Reply 3

Kash24411

19

Major banks will not be moving operations away from London.

Here is a good read: http://www.telegraph.co.uk/business/2016/07/03/french-plot-to-topple-city-of-london-is-foolish-bluster/

Also the MS story is not true: http://www.huffingtonpost.co.uk/entry/morgan-stanley-deny-brexit-has-prompted-them-to-begin-moving-2000-investment_uk_576d47d3e4b08d2c563922ea

Reply 4

Trapz99

21

Also heard loads of traders and back office bois are getting moved. But that's if we completely cut ties with the single market.

Reply 5

gr8wizard10

21

sales/trading is continiously moving more electronic anyway, so headcount will probably decrease regardless of whether banks move their operations

but doubt any bank would move, that would be a major brain drain

Reply 6

Maker

20

Original post

by gr8wizard10

sales/trading is continiously moving more electronic anyway, so headcount will probably decrease regardless of whether banks move their operations

but doubt any bank would move, that would be a major brain drain

Why would there be a brain drain, the employees would move with the bank?

Reply 7

Commercial Paper

21

Original post

by hoping4thebest

"As someone wanting to work in the markets division of a bank, am I ****ed? Since Brexit means that apparently banks are moving salespeople and traders and middle/back office guys as well.
I heard that MS and the European banks are already making plans to move their markets business elsewhere away from London.

What else can I go into?"

(Asking for a friend/person-who-asked-me-for-advice here. Wrote exactly what he messaged me)

No - so far banks have moved near zero jobs. It is speculation at the moment. And some such as Barclays have committed to remaining in the UK (pretty obvious given its a British bank).

If we leave the single market, there may be an impact for operational staff, payments staff and fx sales and traders most noticeably.

Posted from TSR Mobile

(edited 9 years ago)

Reply 8

Commercial Paper

21

Original post

by Maker

Why would there be a brain drain, the employees would move with the bank?

What if the employees don't want to move? Some of the most key will have families in the UK.

Posted from TSR Mobile

Reply 9

gr8wizard10

21

Original post

by Maker

Why would there be a brain drain, the employees would move with the bank?

lol it's a lot more complex than just picking up and all happily dancing into the eu sunshine

Brexit and banking (markets) jobs

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