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

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    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.
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    a friend used to work there
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    (Original post by Trapz99)
    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.
    Someone get Princepieman a tissue
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    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.
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    (Original post by Trapz99)
    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.
    Why most of British wanted the Brexit?
    It seems that someone obliged them.
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    fewer bankers.... surely that is great news... rejoice !!
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    It might bring down London house prices which will be a good thing
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    (Original post by Jack22031994)
    It might bring down London house prices which will be a good thing
    1) It probably won't. The demand for housing in London comes from many people. Wealthy bankers are just a small proportion of London. Many people working in financial services are normal people living in normal houses. If they leave, that won't really do much to reduce demand for housing in London.
    2) A recession can reduce house prices as well. That doesn't mean it's in London's best interests.
    3) House prices going down isn't necessarily a 'good thing'. What about all the people who own houses in London? The value of their biggest asset will decrease, decreasing their wealth.
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    (Original post by ed98)
    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.
    (Original post by ed98)
    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.
    The increase in investment is largely down to takeover deals, which jumped from £26 billion to £134 billion, i.e. there has been an increase in foreign businesses buying British businesses. There is a difference between this and companies choosing to build more factories or hire more people in the UK.
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    (Original post by Trapz99)
    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!
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    (Original post by ByEeek)
    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!
    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.
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    (Original post by the bear)
    fewer bankers.... surely that is great news... rejoice !!
    It won't be great when they stop paying their 45% taxes here and we end up with less money for schools, the NHS and police.
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    (Original post by Trapz99)
    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.
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    Good - i'm still waiting for the max exodus to begin and for British society to fold like an origami crane
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    Where are all the leavers now?

    WE TOLD YOU SO!!!!
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    (Original post by ByEeek)
    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.
    I bet there weren't any black boxes in the cars in Mad Max.
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    It's the most boring, drawn out car crash in history.
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    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.
    Posted on the TSR App. Download from Apple or Google Play
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    (Original post by munchm_)
    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.
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    (Original post by alanjames)
    It actually rose by 46,000 in mid-Feb, first rise in five years.
    That is not the first rise in unemployment in the last 5 years. There have been several since 2013, but the general trend has been a decrease in unemployment.
    Posted on the TSR App. Download from Apple or Google Play
 
 
 
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