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

[tomacht8]

Unbelievable how some Brexiteers crowd out reality.

 

Russian Bank VTB is Relocating Its London Unit to Frankfurt

https://www.themoscowtimes.com/2019/05/08/russian-bank-vtb-is-relocating-its-london-unit-to-frankfurt-a65521

 

Bank by bank, here's where you can expect to work after Brexit

https://news.efinancialcareers.com/fr-en/3000398/brexit-banks-moving-out-of-london

[tomacht8]

 

While Dublin attracts asset managers in particular, banks tend to go to Frankfurt. For example, Deutsche Bank, Goldman Sachs, Bank of America and JP Morgan have already transferred parts of their business to Germany. The move affects not only the offices, but also the assets. According to estimates by New Financial, the ten largest banks alone shift just under 588 billion pounds sterling to Frankfurt - which corresponds to almost 6.6 percent of the assets in the British banking system.

 

Source: translated from 

https://www.businessinsider.de/

[mogandave]

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.

 

Who picked them? Oh yes, the “consultants”.

 

I did not see the qualifications of the individual respondents, where was that in the article?

 

Was the actual “study” linked to?

 

Given less than half the “professionally” managed mutual funds in the US outperform the market please excuse me that I am not convinced people who’s business it is to understand the market.

 

I imagine their response would likely be whatever best suited them.

 

I don’t have an opinion on the accuracy one way or another, but in my opinion, there is no reason to assume it’s true.

 

 

 

 

[Chomper Higgot]

1 minute ago, tomacht8 said:

 

While Dublin attracts asset managers in particular, banks tend to go to Frankfurt. For example, Deutsche Bank, Goldman Sachs, Bank of America and JP Morgan have already transferred parts of their business to Germany. The move affects not only the offices, but also the assets. According to estimates by New Financial, the ten largest banks alone shift just under 588 billion pounds sterling to Frankfurt - which corresponds to almost 6.6 percent of the assets in the British banking system.

 

Source: translated from 

https://www.businessinsider.de/

And of course Rees-Mogg lead the charge moving his Hedge Fund to Dublin.

 

 

[tomacht8]

3 minutes ago, mogandave said:

 

Who picked them?

Given less than half the “professionally” managed mutual funds in the US outperform the market please excuse me that I am not convinced people who’s business it is to understand the market.

I imagine their response would likely be whatever best suited them.
 

 

It is a scientific method of empirical social research and is called Delphi.

 

The Delphi method is a structured communication technique or method, originally developed as a systematic, interactive forecasting method which relies on a panel of experts.

[dick dasterdly]

2 hours ago, Benroon said:

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 ?

"So if 180 senior executives across a large number of UK financial firms"

 

Cough.... From the OP "More than 60% of responses were from Britain and the United States, with the rest mainly from Hong Kong, Ireland, Singapore and Luxembourg."

[dick dasterdly]

1 hour ago, bristolboy said:

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.

Precisely, and we all know how badly they were wrong (and where they left us) whilst pursuing their own profits - that resulted in the '08 crash....

 

Nonetheless, we should trust them implicitly now.....

Edited May 29, 2019 by dick dasterdly

[dick dasterdly]

1 hour ago, bristolboy said:

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.

Yes, they were proven to be unimpeachable sources as to their 'expertise' after the '08 crash.....

[welovesundaysatspace]

4 minutes ago, dick dasterdly said:

"So if 180 senior executives across a large number of UK financial firms"

 

Cough.... From the OP "More than 60% of responses were from Britain and the United States, with the rest mainly from Hong Kong, Ireland, Singapore and Luxembourg."

So pretty much from all the major financial hubs. Of course, a Brexiteer with his degree in supermarket shelves knows better than all those Johnny Foreigners. 

[dick dasterdly]

56 minutes ago, tomacht8 said:

Unbelievable how some Brexiteers crowd out reality.

 

Russian Bank VTB is Relocating Its London Unit to Frankfurt

https://www.themoscowtimes.com/2019/05/08/russian-bank-vtb-is-relocating-its-london-unit-to-frankfurt-a65521

 

Bank by bank, here's where you can expect to work after Brexit

https://news.efinancialcareers.com/fr-en/3000398/brexit-banks-moving-out-of-london

"Russian Bank VTB is Relocating Its London Unit to Frankfurt

https://www.themoscowtimes.com/2019/05/08/russian-bank-vtb-is-relocating-its-london-unit-to-frankfurt-a65521"

 

So I can assume you are not part of the remainer crowd that believes in 'the russians influenced the brexit referendum result'?

[dick dasterdly]

5 minutes ago, welovesundaysatspace said:

So pretty much from all the major financial hubs. Of course, a Brexiteer with his degree in supermarket shelves knows better than all those Johnny Foreigners. 

Please don't make yourself look even more silly.

[welovesundaysatspace]

Just now, dick dasterdly said:

Please don't make yourself look even more silly.

I don’t have to — you’ve done a great job at making yourself look silly already. 

[Sticky Wicket]

They are in completely different time zones and are therefore incomparable\

 

 

Chomper confused again, it's umpteen times a day, poor thing

 

All the big players have offices in NY, London, Japan & Hong Kong as they need to have staff available when various markets open.

 

Brexit sentiment is bound to have effect on a survey but there are no figures to back this up.

London will always be up there due to it's location, infrastructure and time zone. It's folly to think it will change after Brexit.

Skeleton staff will be in small offices in the EU just to adhere to regulations etc.

Edited May 29, 2019 by Sticky Wicket

[mogandave]

I don’t have to — you’ve done a great job at making yourself look silly already. 

The old “I know you are but what am I defense”.

[Sticky Wicket]

4 hours ago, Chomper Higgot said:

‘People are not daft enough’

 

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

Shame you didn't

[mogandave]

It is a scientific method of empirical social research and is called Delphi.

Well, as long as it’s scientific....

[tomacht8]

21 minutes ago, dick dasterdly said:

"Russian Bank VTB is Relocating Its London Unit to Frankfurt

https://www.themoscowtimes.com/2019/05/08/russian-bank-vtb-is-relocating-its-london-unit-to-frankfurt-a65521"

 

So I can assume you are not part of the remainer crowd that believes in 'the russians influenced the brexit referendum result'?

This is called distracting from the topic of conversation.
Did you at least realize that many banks and financial institutions are leaving London and moving to other EU countries or setting up new bases?

[tomacht8]

3 minutes ago, mogandave said:

 

Well, as long as it’s scientific....
 

 

Please do not make others responsible for your educational gaps.

[Chomper Higgot]

41 minutes ago, Sticky Wicket said:

They are in completely different time zones and are therefore incomparable\

 

 

Chomper confused again, it's umpteen times a day, poor thing

 

All the big players have offices in NY, London, Japan & Hong Kong as they need to have staff available when various markets open.

 

Brexit sentiment is bound to have effect on a survey but there are no figures to back this up.

London will always be up there due to it's location, infrastructure and time zone. It's folly to think it will change after Brexit.

Skeleton staff will be in small offices in the EU just to adhere to regulations etc.

Frankfurt, Paris or Dublin will do nicely.

 

And as a reminder, how many other industries did Britain think it could never loose?!

 

 

[sanemax]

Have I got this straight ?

The banking industry left the U.K. because the UK is leaving the E.U.

The banking industry went to the USA.....................who are also not in the E.U 

That cannot be right .

 

[Sticky Wicket]

2 minutes ago, Chomper Higgot said:

Frankfurt, Paris or Dublin will do nicely.

 

And as a reminder, how many other industries did Britain think it could never loose?!

 

 

That will never happen and you know it! 

Quote me on this in 10 years if you want to.

 

[Chomper Higgot]

8 minutes ago, Sticky Wicket said:

That will never happen and you know it! 

Quote me on this in 10 years if you want to.

 

I’ll offer you this piece of advice:

 

Never say never.

 

Especially when talking about industries in Britain going elsewhere.

[Sticky Wicket]

2 minutes ago, Chomper Higgot said:

I’ll offer you this piece of advice:

 

Never say never.

 

Especially when talking about industries in Britain going elsewhere.

Jesus wept, Chicken Little time. 

Service industries are completely different to manufacturing etc. 

[sanemax]

2 hours ago, tomacht8 said:

Unbelievable how some Brexiteers crowd out reality.

 

Russian Bank VTB is Relocating Its London Unit to Frankfurt

https://www.themoscowtimes.com/2019/05/08/russian-bank-vtb-is-relocating-its-london-unit-to-frankfurt-a65521

 

 

There has been a lot of friction between the U.K & Russia recently and the UK Gov has taken measures to stop the influx of "dirty money" from Russia and restricting visas for Russians

  That may well be the reason for the Russian bank relocating ?

[OJAS]

So a survey conducted by an American consultancy firm just happens to award the top finance spot to an American city. How remarkable!

[mogandave]

Please do not make others responsible for your educational gaps.

I’m rubber, you’re glue, what you say bounces off me and sticks to you.

[Chomper Higgot]

36 minutes ago, Sticky Wicket said:

Jesus wept, Chicken Little time. 

Service industries are completely different to manufacturing etc. 

Yes they are.

 

They are far more mobile and easier to ship overseas.

 

As we have been seeing. 

 

Ask Rees-Mogg.

[Sticky Wicket]

7 minutes ago, Chomper Higgot said:

Yes they are.

 

They are far more mobile and easier to ship overseas.

 

As we have been seeing. 

 

Ask Rees-Mogg.

I've just asked him he's says you are talking <deleted>

[Chomper Higgot]

Just now, Sticky Wicket said:

I've just asked him he's says you are talking <deleted>

I'm quite certain those are his exact words. 

[mogandave]

Yes they are.
 
They are far more mobile and easier to ship overseas.
 
As we have been seeing. 
 
Ask Rees-Mogg.

Service industries are easier to ship overseas?