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By (user no longer on site) OP
over a year ago
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JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. Why are they doing this?  |
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By (user no longer on site) OP
over a year ago
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"If the UK and the EU agree on financial passporting, then that money may well come back to London. "
Yes, it ‘may well ‘ come back, but let’s be honest, it is highly unlikely . How much money has been moved away from the UK since Brexit? |
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By (user no longer on site)
over a year ago
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"If the UK and the EU agree on financial passporting, then that money may well come back to London.
Yes, it ‘may well ‘ come back, but let’s be honest, it is highly unlikely . How much money has been moved away from the UK since Brexit? "
Unfortunately, nobody knows |
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By (user no longer on site) OP
over a year ago
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"If the UK and the EU agree on financial passporting, then that money may well come back to London.
Yes, it ‘may well ‘ come back, but let’s be honest, it is highly unlikely . How much money has been moved away from the UK since Brexit?
Unfortunately, nobody knows"
It is probably at least a £ 1 trillion, never mind though, it must be part of the Brexit grand plan   |
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"JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. Why are they doing this? "
However, it’s not just Brexit. JPMorgan has repeatedly said that its German unit will seek market share in investment banking, corporate banking and wealth management. As JPMorgan steadily strengthens its operations in Germany, the head of the Frankfurt-based unit, Dorothee Blessing, has been taking on additional responsibilities.
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By (user no longer on site) OP
over a year ago
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"JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. Why are they doing this?
However, it’s not just Brexit. JPMorgan has repeatedly said that its German unit will seek market share in investment banking, corporate banking and wealth management. As JPMorgan steadily strengthens its operations in Germany, the head of the Frankfurt-based unit, Dorothee Blessing, has been taking on additional responsibilities.
"
‘Not just Brexit’? So they were going to move the money anyway? |
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By (user no longer on site)
over a year ago
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"JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. Why are they doing this?
However, it’s not just Brexit. JPMorgan has repeatedly said that its German unit will seek market share in investment banking, corporate banking and wealth management. As JPMorgan steadily strengthens its operations in Germany, the head of the Frankfurt-based unit, Dorothee Blessing, has been taking on additional responsibilities.
‘Not just Brexit’? So they were going to move the money anyway? "
I'm sure it's nothing to do with Brexit. Sheer coincidence.
On the topic... it was reported in 2019 that UK finance firms moved £900bn to Europe. This also cost £3bn-4bn and involved 5,000 expected staff moves or local hires. Apparently, 275 firms did this.
Sheer coincidence, too, I'm certain. Can't be anything to do with Brexit. |
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By (user no longer on site)
over a year ago
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"This news about Morgan Chase moving funds to Frankfurt, was reported in January 2019!"
It's being widely reported today. And it's being reported as "JP Morgan ‘to move €200bn assets from the UK to Germany’ due to Brexit".
Maybe they also moved money in the past due to Brexit? |
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By (user no longer on site) OP
over a year ago
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"JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. Why are they doing this?
However, it’s not just Brexit. JPMorgan has repeatedly said that its German unit will seek market share in investment banking, corporate banking and wealth management. As JPMorgan steadily strengthens its operations in Germany, the head of the Frankfurt-based unit, Dorothee Blessing, has been taking on additional responsibilities.
‘Not just Brexit’? So they were going to move the money anyway?
I'm sure it's nothing to do with Brexit. Sheer coincidence.
On the topic... it was reported in 2019 that UK finance firms moved £900bn to Europe. This also cost £3bn-4bn and involved 5,000 expected staff moves or local hires. Apparently, 275 firms did this.
Sheer coincidence, too, I'm certain. Can't be anything to do with Brexit."
It can’t be, why would the banks do such crazy things? |
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By (user no longer on site)
over a year ago
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Don't worry, I'm sure the tories will do what they can to ensure London stays as the global money laundering capital. They wouldn't want to upset their friends after all. |
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By *ovebjsMan
over a year ago
Bristol |
"JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. Why are they doing this? "
Probably because the interest rate is better there, nothing new there  |
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By (user no longer on site)
over a year ago
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"JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. Why are they doing this?
Probably because the interest rate is better there, nothing new there "
Nothing to do with Brexit at all, eh? Good to know. |
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By (user no longer on site) OP
over a year ago
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"JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. Why are they doing this?
Probably because the interest rate is better there, nothing new there "
Hahaha, classic, |
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I have Family who work within J.P Morgan
The 2019 think was due to a law cgange that
Most foreign banks who are forex banks had to change as it was illegal to trade in london , cant remember the exact details
but people moved from London to Amsterdam .
As for this latest move
It is do with Brexit as such,
But is because they have to have
capital reserves ( overdraft ) in an EU location .
They simply chose Berlin . |
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By (user no longer on site) OP
over a year ago
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"Don’t worry once outside EU financial law we can become like Panama and deal with even more murky money to replace those zeros.
 "
Another Brexit bonus |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
It’s not really there money , it’s investors, you wouldn’t want adverse FX to steal it though. Germany, Holland or Sweden are the best places to hold capital for infra projects and wealth management |
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By *ackal1Couple
over a year ago
Manchester |
"I have Family who work within J.P Morgan
The 2019 think was due to a law cgange that
Most foreign banks who are forex banks had to change as it was illegal to trade in london , cant remember the exact details
but people moved from London to Amsterdam .
As for this latest move
It is do with Brexit as such,
But is because they have to have
capital reserves ( overdraft ) in an EU location .
They simply chose Berlin ."
I think Leaving the EU means the U.K. based banks don’t have a passport to trade within Europe freely.
All the majors have moved some registrations out of London.
Up to September last year the number of primarily “financial” businesses doing this was 332.
Not just name plaques but real well paid jobs.
The beneficiary cities in order are Paris, Dublin , Amsterdam and Frankfurt.
Bankers find Frankfurt boring
Another great Brexit bonus. And another Boris bullet in the foot of the U.K. economy .
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