June 1, 2017
By: Stuart Egerton & Luca Ziprani
For the past 2 years this has been a major buzzword both in and out of the UK. As with all big change it presents opportunities along with many challenges.
As it stands, no one knows exactly what will happen on March 2019 but this has not stopped governments and companies alike to start creating contingency plans and de-entanglement/ passporting projects.
As always the forerunners in any political/economical climate shift are the Financial institutions. Many London based banks are considering their options to start looking at new European hubs post Brexit.
Over the past 6 to12 month Dublin has seemed to come out on top. Dublin still benefits from certain tax laws (that have slowly been eroded in Luxembourg over the past few years) making it a favourable place for any company to set up its HQ there. In addition, Dublin is a European English speaking country that is still in the London time zone making a transition between the two cities relatively simple and cost effective.
It is no secret that large name banks such as JP Morgan are pushing hard and spending lots of money to setup and build Operations in Dublin; Credit Suisse will be moving their Prime Brokerage function; CITI Bank will build up their operations team; State Street Bank will push for more Transfer Agency new client business and the vendor organisations such as Multifonds & Temenos, will benefit from increased revenues.
Is the future of European Banking going to be in Ireland or will it move to the continent?
Only time will tell but it is best to prepare for both outcomes.
Whether it is moving people within the EU or outside the EU SKILLFINDER INTERNATIONAL has successfully placed thousands of senior & graduate candidates over 15 years.
OUR MISSION: To leverage our European offices to become the most reliable and successful firm in placing candidates in and out of the EU. – post Brexit climate
Do get in touch with us; we go the extra mile to deliver a high level of satisfaction, knowledge and expertise in everything we do. – Call us On: +44 (0)203 763 9500 Visit us at: www.skillfindergroup.com