Skip to content
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
placeholder-661-1.png
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
logo

Brexit hit to British Banks still not fully felt, UK finance ministry says

Britain’s top financial assistants said that the hit to the city of London was less severe than the prediction, from Brexit. Britain has reached the post Brexit steady state.

Katharine Braddick, head of financial services at Britain’s finance ministry told an event held by the Peterson Institute for International Economics that banks settling on locations for their European operations. She also added that there is still a lot in play and there is quite a lot of pressure to move quite a lot quite quickly. And that is very much at the sharp end of where we are seeing the new border arise.

YOU MAY ALSO LIKE

A Shift in Global Governance: A New Order for the Global South

A Shift in Hiring Dynamics on Wall Street

Banks in London face pressure from the European Central Bank to relocate staff and activities to the EU. Euro share and swaps trading has moved from London to Amsterdam, and Brussels wants clearing to follow. Braddick said that the clients themselves decide where businesses locate, and that’s certainly been the case so far on clearing and we will see that in investment banking.

The finance ministry has to set out a clear, long-term plan for the City and speed up proposed reforms, said the bankers to the report. The need to re-establish a sense of clear and consistent values and direction in financial services policy and regulation, was keenly aware by the financial ministry said Braddick. The industries see this Brexit experience as threatening predictability in business decision-making.

Douglas Rediker, founder of consultancy International Capital Strategies, said that they saw the vast majority of EU equity trading move from London to Amsterdam. It did poke a big hole in the story that London could never be replaced.

Tags: BrexitBritish BanksUnited Kingdom

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

A Shift in Global Governance: A New Order for the Global South

A Shift in Global Governance: A New Order for the Global South

A Shift in Hiring Dynamics on Wall Street

A Shift in Hiring Dynamics on Wall Street

Market Sentiments and Asia’s Currencies

Market Sentiments and Asia’s Currencies

Hope and Innovation: A Bionic Arm for Nigeria

Hope and Innovation: A Bionic Arm for Nigeria

European Stocks Edge Higher as Consumer and Healthcare Gains Offset Tech and Defence Weakness

European Stocks Edge Higher as Consumer and Healthcare Gains Offset Tech and Defence Weakness

Switzerland Weighs Membership in Global Anti-Corruption Task Force to Shed Reputation for Secrecy

Switzerland Weighs Membership in Global Anti-Corruption Task Force to Shed Reputation for Secrecy

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

A Shift in Global Governance: A New Order for the Global South

A Shift in Hiring Dynamics on Wall Street

Market Sentiments and Asia’s Currencies

Hope and Innovation: A Bionic Arm for Nigeria

European Stocks Edge Higher as Consumer and Healthcare Gains Offset Tech and Defence Weakness

Categories

  • Banking
  • Business
  • Events
  • Finance
  • Blogs
  • Fintech
  • Forex
  • Insurance
  • Technology
  • Videos

Social Media

COPYRIGHT © 2020-2025 GLOBAL BUSINESS REVIEW MAGAZINE LLC - ALL RIGHTS RESERVED

  • About Us
  • Contact Us
  • Advertise With Us
  • Leadership report
  • Privacy Policy
  • Disclaimer
  • Terms & Conditions
No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

Copyright © 2025 Global Business Review Magazine - All Rights Reserved.