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Or Ireland.

roryisok 10y ago
As an Irish person I'd love to see us get some kind of benefit from Brexit, as we'll be the country most negatively affected by it (besides the UK itself of course). However I really can't see the financial institutions of London choosing Dublin over somewhere like Frankfurt or Amsterdam.
- edblarney 10y ago
  Sure you can. The #1 reason bankers will shift will be due to 'passporting' issues - banks will require EU based personnel for legal reasons. In this case, I think it's easiest for London banks just to have staff in the easiest and most accessible place: Dublin. Other than that - I don't see the reason why any jobs at all would go to Europe. If they can do it from the UK, they will do that. There is no growth in Europe, it's all in Asia. Now - I believe the EU is trying to pull some Euro currency exchanges and clearing from London, in which case, there might to be another 'regulatory' reason to switch some people over. But I think this is overblown. There's nothing pretty about banking in the EU. London has not become more attractive because it's without EU regulatory limitations - and - they'll have considerable leverage with Theresa May etc. to win more concessions to make it even more competitive. It's entirely plausible that there are even more banking jobs in London after this is all settled.
  - roryisok 10y ago
    All this talk about Theresa May winning concessions... how is she going to do that exactly? The UK have no bargaining chips.
    - edblarney 10y ago
      Who said she was going to win any concessions? I said London City is going to win concessions from May in order to want to keep financial services in London.
      - roryisok 10y ago
        my bad, sorry, I misread your comment
- notahacker 10y ago
  I assume it'll do reasonably well in niches where financial services companies already have a substantial Dublin presence (generally related to tax advantages: aircraft leasing and services for MNCs headquartered in Dublin). I suspect it might be attractive to British fintech founders considering a move out of London for passporting reasons too. Whether that's anywhere near enough to offset the net impact on the Irish economy is another question

Or Ireland.

As an Irish person I'd love to see us get some kind of benefit from Brexit, as we'll be the country most negatively affected by it (besides the UK itself of course). However I really can't see the financial institutions of London choosing Dublin over somewhere like Frankfurt or Amsterdam.

edblarney 10y ago
Sure you can. The #1 reason bankers will shift will be due to 'passporting' issues - banks will require EU based personnel for legal reasons. In this case, I think it's easiest for London banks just to have staff in the easiest and most accessible place: Dublin. Other than that - I don't see the reason why any jobs at all would go to Europe. If they can do it from the UK, they will do that. There is no growth in Europe, it's all in Asia. Now - I believe the EU is trying to pull some Euro currency exchanges and clearing from London, in which case, there might to be another 'regulatory' reason to switch some people over. But I think this is overblown. There's nothing pretty about banking in the EU. London has not become more attractive because it's without EU regulatory limitations - and - they'll have considerable leverage with Theresa May etc. to win more concessions to make it even more competitive. It's entirely plausible that there are even more banking jobs in London after this is all settled.
- roryisok 10y ago
  All this talk about Theresa May winning concessions... how is she going to do that exactly? The UK have no bargaining chips.
  - edblarney 10y ago
    Who said she was going to win any concessions? I said London City is going to win concessions from May in order to want to keep financial services in London.
    - roryisok 10y ago
      my bad, sorry, I misread your comment
notahacker 10y ago
I assume it'll do reasonably well in niches where financial services companies already have a substantial Dublin presence (generally related to tax advantages: aircraft leasing and services for MNCs headquartered in Dublin). I suspect it might be attractive to British fintech founders considering a move out of London for passporting reasons too. Whether that's anywhere near enough to offset the net impact on the Irish economy is another question