26 Comments

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  • Project fear still in full swing.

    /s

    The only lesson here is don’t let your politicians out right lie, over and over again, during a referendum campaign.

  • Hardly unexpected. Companies operating in the EU want access to the whole of the EU. If they wanted to deal with bunches of new red tape and problems, they could just as well just remain in Japan in this case. There’s no real difference between a border between Japan and the EU or a border between the UK and the EU.

    Leaving the EU is a dumb-ass move that UK voters will be paying for quite a bit. And then they’ll probably find someone else to blame for their own irrationality.

  • “MUFG COULD move hundreds of its 2,100 London employees to the Dutch capital, sources told the Financial Times”

    in other words – this is just a clickbait story, with no substance when you actually read it.

  • Logical move.

  • London also imposed a trading tax which has significantly impacted their stock market moving tons of businesses in similar directions.

  • Frankfurt, Amsterdam, Paris or Dublin. Which do you prefer? If all the banks relocate to ONE place; it becomes the new centre of gravity. If they spread out it is probably better for lots of reasons; staffing, facilities, diversification among them.

    I would have thought that English-speaking would be of paramount importance so Dublin would be my recommendation but then, who wants to live in Dublin IFSC (kidding… sort of…)! The weather is shit in all except maybe Paris in the springtime but then, it’s full of French 😮 It’s really hard to beat the weather in London. No, wait….

  • The world we know a few years ago is changing drastically. I wonder if England will have more setbacks.

  • This is unexpected, i thought that nl didn’t make a chance due to its policy to limit bonuses to max 20% of yearly income.

  • >MUFG could move hundreds of its 2,100 London employees to the Dutch capital, sources told the Financial Times.

  • They planned this before brexit. It has nothing to do with brexit. I know this because the company I work for uses them. They had been planning the move since about 3 years ago.

  • These banks and businesses moving to other European city’s, so now they can experience gentrification like London did having their city’s too expensive for the majority of ordinary workers to live. They can fuck off as far as I’m concerned.

  • At the moment the country sounds more like “Disunited Kingdom of Not-So-Great Britain and £1.5Billion Northern Ireland”.

  • Unless they plan on rebuilding billions of £’s worth of fiber optic cables connecting London directly to other financial centres in Amsterdam, Frankfurt etc, it will continue to remain Europe’s biggest financial center. It will lose 10 to 20% of it’s workforce as we are seeing, but no more. You also lose trading hours when you move outside of the central GMT time zone, worth hundreds of millions. Also the talent just does not exist in other cities. Amsterdam has a population of 800,000 – they do not have anywhere near enough people qualified in Finance to replace all the jobs in London. This is true of every city in Europe.

    Tl;dr London’s financial center will get smaller, but it’ll still be by far the biggest and most important in Europe.

  • I wonder how common this is going to be, as London was sort of the defacto central city of world commerce, only really competing with NY and HK on that front. Now NY isn’t all that much better with it, so perhaps more banks flow to Amsterdam from London, and elsewhere.

  • Who cares? Just buy them Brits a few pints and give them some soccer matches they will not even notice it.

  • Good move

  • The Brexit is hitting in harder every day

  • Well… at least America is the only country moving backwards right now…

  • Surprise kids!

  • The UK taking losses like Donald Trump.

  • Good for you, Japan.

  • Why is that a problem? The British voted for this right? And that too through a refenderum, so its not like you can say you voted for a politician who did something unexpected

  • It’s just business, where can I make the most money for the least expenditure with the best exposure. The U.K. Was just a vessel for businesses to reap the rewards from. Rats and sinking ship

  • *despit…*

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