EU Investors Considering Moves to the UK Because of Brexit

The narrative of a mass exodus of City jobs has already been consigned to the Project Fear dustbin of history, with just 2,000 jobs now expected to move in the event of no-deal, compared to wild predictions of over 230,000 before the referendum. Now the FT of all places is reporting that EU asset managers are actually considering moving to the UK because of Brexit. That wasn’t in the script…

EU fund managers are up in arms over EU rules which would force them to trade dual-listed shares on uncompetitive EU exchanges after Brexit if the Commission refuse to give them access to London after Brexit. The German Investment Funds Association said that “without equivalence granted to UK trading venues, we see the real possibility of EU27 fund managers locating operations in the future in the UK”. London’s pull as the financial capital of the world is just too strong, whether the EU likes it or not…

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