Lloyd’s: London Will Remain Our Major Financial Centre

The BBC and Remainstream media are getting very excited at news that Lloyd’s of London is opening an EU subsidiary in Brussels. Remainers are spinning that this proves they were right about an exodus from the City. Except if you look at what Lloyd’s chief executive Inga Beale has actually said this morning, it’s a very different picture:

“It’s not moving our whole London base, it’s just setting up an EU subsidiary.”

Chairman John Nelson confirms:

“London will remain the major financial centre for Europe. It’s certainly going to remain the major financial centre for Lloyd’s.”

How many people will be working in the Lloyd’s Brussels office? Nelson says it will be in the “tens, not the hundreds”. Lloyd’s of London has 995 staff. It is just untrue for Remainers to say this is evidence of a exodus from London. 

Is it any surprise that Lloyd’s would open a small EU subsidiary in an EU country post-Brexit? It’s not even a surprise that they would choose Belgium, seeing as “Lloyd’s in Belgium” has existed since 1994.

John Nelson, the Lloyd’s chairman, is keenly pro-EU. Don’t believe the hysterical reports in elements of the media, or the dishonest gloating of the Remain Twitterati. Tens of Lloyd’s staff are heading to Brussels, the vast majority of the thousand or so staff will stay in London…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

George Osborne’s Evening Standard leader on Leave voters:

“Now, like a duped drunk in a strip bar, voters find that, far from getting their hands on the goodies, they have been left with a large bill.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Sunday Shows Sunday Shows
Clegg Spinning Brexit Doom Report Clegg Spinning Brexit Doom Report
Taxpayers’ Alliance Updates Iconic Tory Poster Taxpayers’ Alliance Updates Iconic Tory Poster
Liar Clegg Brillo’d Liar Clegg Brillo’d
Just 22% Still Support Remain Just 22% Still Support Remain
McDonnell Denies Being Marxist McDonnell Denies Being Marxist
Tories Fundraising on Brussels Bluster Tories Fundraising on Brussels Bluster
Appeal on Behalf of the Friends of George Miller Appeal on Behalf of the Friends of George Miller
Public Still Not Sure What Labour and Lib Dems Believe on Brexit Public Still Not Sure What Labour and Lib Dems Believe on Brexit
Triggered: Article 50 Triggered: Article 50
“St Patrick was an Immigrant” “St Patrick was an Immigrant”
FLASHBACK: Labour Election Fraud FLASHBACK: Labour Election Fraud
FLASHBACK: LibDem Election Fraud FLASHBACK: LibDem Election Fraud
Pictured: Hammond’s Red Box Pictured: Hammond’s Red Box
Major and Cameron Lunched Yesterday Major and Cameron Lunched Yesterday
Bloomberg Thinks Bankers Bluffing About Brexodus Bloomberg Thinks Bankers Bluffing About Brexodus
Amazon Outage Amazon Outage