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Brexit helps New York take top finance spot from London: survey


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Posted

Brexit helps New York take top finance spot from London: survey

 

2019-05-28T041555Z_3_LYNXNPEF4R07J_RTROPTP_4_USA-WEATHER.JPG

Women walk in the rain in the financial district in Lower Manhattan in New York City, New York, U.S., March 21, 2019. REUTERS/Brendan McDermid

 

LONDON (Reuters) - Fallout from Brexit has helped New York overtake London to become the world's pre-eminent financial center, a survey of financial executives by Duff & Phelps showed on Tuesday.

 

The consultants said their annual Global Regulatory Outlook survey contacted 180 executives in asset management, private equity, hedge funds, banking and brokerage.

 

They were asked where they think the top financial center is located. More than 60% of responses were from Britain and the United States, with the rest mainly from Hong Kong, Ireland, Singapore and Luxembourg.

 

Just over half of respondents now see New York as the world's top financial center, up 10% from 2018, while 36% see London as the leader, down 17% from last year.

 

"Last year, Brexit cast a shadow of uncertainty over the United Kingdom’s economy; it has now escalated to a full-blown crisis," Duff & Phelps said.

 

"Looking ahead, however, globalization’s diffusion of influence begins to be apparent: 12% of respondents expect Hong Kong to be the world’s preeminent financial center five years from now."

 

British government ministers said last week that the UK financial sector would emerge stronger from Brexit.

 

Duff & Phelps said Dublin, Frankfurt and Luxembourg also fared better this year as the European Union's financial industry searches for a new hub.

 

Britain's departure from the EU has already been delayed twice, with the next deadline set for Oct. 31, and uncertainty over future bilateral trade relations has prompted banks, asset managers and insurers to set up operations in the bloc to maintain links with customers.

 

(Reporting by Huw Jones; editing by John Stonestreet)

 

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-- © Copyright Reuters 2019-05-28
  • Thanks 1
Posted
2 hours ago, tebee said:

Duff & Phelps are a US firm - what would they have to gain by promoting unfounded fear over brexit?

 

Brexiters need to stop denying everything that tell them the projects is not a good idea or one day you will be surprised by reality  

If they ape Trump's supporters , they will simply ignore reality.

  • Haha 1
Posted (edited)
1 hour ago, ivor bigun said:

I was only reading an article the other day how the financial area in London is stronger than ever despite Brexit ,make up your minds "hexperts"

Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app
 

Info from BrexitCentral. It's interesting the 'globalists' are investing in the UK economy, whilst Brexiter's rage against the globalists, including Farage. Plus of course Financial Services are the essence of globalism.

 

https://brexitcentral.com/global-britain-just-became-the-worlds-top-investment-destination-despite-brexit-of-course/

Edited by simple1
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Posted
5 hours ago, dunroaming said:

Of course all our Brexiteer friends will be in denial but that is not just restricted to TV.  It's the standard response from their politicians too.  It used to be that people were prepared to put their hands up and say  "I got that one wrong!".  Not anymore though.

saving face going international eh?

Posted
9 hours ago, dick dasterdly said:

Christ almighty - the establishment really don't give up on the fear-mongering propaganda!

 

Be warned everyone, it's going to become ever more virulent following the MEP election results ☹️.

 

 With due respect dick,,, UK is well and truely  finished/ fdk 

 

 

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Posted
9 hours ago, tebee said:

Duff & Phelps are a US firm - what would they have to gain by promoting unfounded fear over brexit?

 

Brexiters need to stop denying everything that tell them the projects is not a good idea or one day you will be surprised by reality  

Money?

Posted
9 hours ago, Baerboxer said:

 

Well Farage and that nice Mr. R-Mogg, along with the loveable buffoon Boris, have promised everything will be wonderful once we leave. Just like that!

 

And they wouldn't lie would they!

No .... they haven't

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Posted
It depends which 180 people.
 
The bulk of funding for the Brexit Leave campaign came from a handful of tax shy Billionaires, Multimillionaires and Hedge Fund managers.
 
How curious is that?!
Was it not Soros one of the worlds wealthiest men who wants to remain? Its a two way street.

Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app

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Posted
17 minutes ago, ivor bigun said:

Was it not Soros one of the worlds wealthiest men who wants to remain? Its a two way street.

Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app
 

Soros, the Bete Noire of the Right of Centre, but he's correct.

 

https://www.independent.co.uk/news/world/europe/george-soros-eu-sleepwalking-oblivion-european-union-brexit-far-right-a8775311.html

 

 

  • Like 1
Posted
46 minutes ago, Chomper Higgot said:

It depends which 180 people.

 

The bulk of funding for the Brexit Leave campaign came from a handful of tax shy Billionaires, Multimillionaires and Hedge Fund managers.

 

How curious is that?!

And funding for remain came from Camerons Government...not curious, damn right wrong

Posted
How so ? 
 
Given the 180 were all executives involved in the subject matter and would presumably have a handle on their balance sheets, that's quite a large sample or should they have extended it to the mail room and cleaners ?


Yes, let’s ask 180 politicians who has the best system of government, after all, they’re all experts yes?

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Posted
Sorry that makes zero sense - it would have been better to have left it me thinks.
 
So if 180 senior executives across a large number of UK financial firms was not an appropriate panel to do a survey on the financial industry implications of Brexit - what was ?


Why assume executives doing business in the UK are experts about doing business in every major city in the world, unless of course it fits your narrative...

Methinks I care not what you thinks...
  • Confused 1
Posted
10 minutes ago, mogandave said:

 


Why assume executives doing business in the UK are experts about doing business in every major city in the world, unless of course it fits your narrative...

Methinks I care not what you thinks...

 

What you may not understand is that these were professionals involved in management of global assets. It's their business to know this stuff and how well they are competing with financial experts in other nations.

  • Like 2
Posted
20 minutes ago, Laughing Gravy said:

So brexiteers are predominantly racists. What is spoony backed. Have you and CH been swapping notes. I was expecting a picture to accompany your posts.

 

Yes the UK is well and truly <deleted>. No jobs, no food, no anything. All predicted by these so called experts you are on about 3 years of constant telling everyone, how worse of they are and how much they need the EU. I imagine that like a Goldfish who swims in a bowl you think that you are swimming in the ocean.

 

Regardless what you and I think, 17.4 million a majority voted to leave the EU and no matter how many insults you and other posters make in your desperation. I don't care and I know many others join my sentiment. Keep whining on with insults and how the end of the world is coming again and again and again.

 

Don't waste your time replying I wont be responding with a 'spoony' comment.????

Leave me out of this LG, I have never once claimed that Brexit supporters are predominately racist.

 

I stick to the far more accurate observation that in the run up to the referendum Leave was behind in the polls until they (and Farage) engaged their campaign of stoking xenophobia after which Leave rose in the polls. 

 

Obeserving that Brexit Leave attracted the support of xenophobes, racist and Islamomphobes is a long way from claiming that all Brexit supporters are these things or that Brexiteers are predominately these things. 

 

If somebody else makes those claims, leave me out of it. 

 

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