Are Fintech companies leaving the U.K.

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richard10012
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#1
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Currencycloud are leaving the London and setting up an office in the Euro because of brexit concerns.
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niteninja1
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No at least not the proper ones
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History98
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A lot of companies will probably setup other offices in the EU area as after Brexit the EU will be a separate market from the UK market, thats a natural consequence of Brexit, some EU based companies will most likely also open offices in the UK too I suspect. What Currencycloud is doing is perfectly reasonable and I don't think is cause for panic. Overall, there is really no sign of a massive exodus of corporations as of now, we will probably have to wait to see what happens when the UK gets close to actually losing tariff free access to the single market in 2019.
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StuartyBudd
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Generally: Yes. however not fully. The picture is mixed. Generally though, yes

Many tech companies are either looking to move to the EU fully or at least setup a separate office.

Initially there will be a mass move (some have already).
Brexit should be seen though as a slow motion event over the next 15 years.

So, there will not be a massive event or financial issue.
There will be a set of smaller events over the next 15 years.

So, if you look at events day to day, nothing much will change.
After 15 years, if you compare people living in the EU (Germany & France) with the UK then the UK will look tired, worn out and poorer.

i.e. it is a 15 year event. An economic slowdown in slow motion over 15 years.

Question:
"But Google/ Facebook/ other company is opening new offices in X Y Z"

Yes. They are just offices. For larger companies/ banks etc. They are nothing, just offices.
As Google explained in a recent conference,
They currently see Europe are: London and EU/Berlin/others.
Now it will be: More mixed and eventually, mostly EU

AI (number of maths graduates) may stay in the UK, but it will move eventual.
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