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

[webfact]

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

 

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)

 

-- © Copyright Reuters 2019-05-28

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[dick dasterdly]

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 ☹️.

Edited May 28, 2019 by dick dasterdly

[Chomper Higgot]

8 minutes 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 ☹️.

Well apart from the widely reported fact that financial institutions have responded to the threat Brexit poses to them by moving their business out of London.

 

Ask Rees-Mogg.

[tebee]

17 minutes 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 ☹️.

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  

[evadgib]

Hot on the tail of another got-it-wrong vote?

[Baerboxer]

41 minutes 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 ☹️.

 

And what's Nigel Farage's answer - they'll come begging back or some such <deleted>!

[Baerboxer]

22 minutes 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  

 

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!

[dunroaming]

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.

[joecoolfrog]

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.

[ivor bigun]

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"

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[simple1]

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 May 28, 2019 by simple1

[bristolboy]

 It looks like it's for the year 2017. Back when almost no one believed that a hard Brexit would happen.

https://www.ey.com/uk/en/issues/business-environment/ey-uk-attractiveness-survey

 

[from the home of CC]

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?

[mogandave]

So they determine what the financial capital of the world is by asking 180 people?

How funny is that?

[elliss]

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 

 

 

[nauseus]

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?

[nauseus]

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

[HeyHeyHey]

Just <deleted> leave idiots

[pegman]

14 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!

Don't forget Rupert and the tabloids. When are they ever wrong? Well, there's that whole WMD in Iraq thing but, but, but......

[Chomper Higgot]

6 hours ago, mogandave said:

So they determine what the financial capital of the world is by asking 180 people?

How funny is that?

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?!

[ivor bigun]

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.

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[simple1]

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

 

 

[baansgr]

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

[Laughing Gravy]

Another "run for the hills we are all doomed from Reuters the ever so Biased EU supporting news feed". So a survey has been done whoopee.

 

People are not daft enough to believe anything these people say. The UK was meant to be in Armageddon, no jobs, no food on the shelves and everyone with a begging bowl, crying to be part of the EU again.

 

As with most of the EU predictions and the corporate media backing them, reality and fantasy are not the same. Another nonsensical article. no doubt more to come after the EU getting a thrashing at the EU elections.

[mogandave]

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?

[Chomper Higgot]

3 hours ago, Laughing Gravy said:

Another "run for the hills we are all doomed from Reuters the ever so Biased EU supporting news feed". So a survey has been done whoopee.

 

People are not daft enough to believe anything these people say. The UK was meant to be in Armageddon, no jobs, no food on the shelves and everyone with a begging bowl, crying to be part of the EU again.

 

As with most of the EU predictions and the corporate media backing them, reality and fantasy are not the same. Another nonsensical article. no doubt more to come after the EU getting a thrashing at the EU elections.

‘People are not daft enough’

 

I nearly choked on my coffee when I read your post making that claim.

[mogandave]

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...

[bristolboy]

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.

[Laughing Gravy]

45 minutes ago, Benroon said:

I have to admit your levels of denial are impressive - seriously. It is not Reuters opinion, it is the opinion of 180 people in the financial industry in a SURVEY. Reuters are reporting the SURVEY, it was not an editorial piece - you appear to struggle with that. 

 

Reuters are reporting what 180 OTHER affected executives have stated, what would they have to gain by lying ? - can you find 180 senior executives to counter that ? Ok maybe just 80 - infact lets start with 8 !!.

 

So the 180 INDEPENDENT surveyed here are all collectively clueless right ? Laughing Gravy ON TVF has a better insight than these people correct ? You do make me smile. What do you do for a living out of interest ?

 

So its basically ALL the major industries and job creators, governments, the financial world which the UK is heavily dependent on, the NHS (and yesterday the UK Steel industry joined the stop the madness call),  versus Laughing Gravy and Spoony backed by a small battalion of predominantly racists who hadn't and still haven't a clue what they voted for. Such as …..

 

https://www.independent.co.uk/news/uk/politics/brexit-party-neena-gill-mep-european-elections-racism-west-midlands-birmingham-acceptance-speech-a8932831.html

 

 

 

 

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.????

[Chomper Higgot]

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.