Banking job functions – A list of those likely to go post Brexit

Saturday, March 4th, 2017 - Uncategorized

Worried that your job disappearing post Brexit ? This might give you a better clue.

Bloomberg News reports that British bankers have lowered their sights when it comes to securing a Brexit deal that will safeguard the U.K.’s biggest industry. After months of pushing to keep unrestricted access to the single market, TheCityUK lobby group diluted its demands in January.

It’s no longer seeking so-called passporting, which allows global banks with bases in London to provide services to the rest of Europe. Instead, banks are now increasingly focusing on securing a version of regulatory “equivalence,” or an official recognition by the European Commission that the U.K.’s rules and oversight of specific business lines are as tough as its own. That would pave the way for a continuation or resumption of certain cross-border business.

The Boston Consulting Group has undertaken some research on the job functions that are likely to remain or relocate post Brexit.

Here’s some of the results of the results:

Remain in London / the United Kingdom

Securitized products

Commodities trading

Merger advisory

Currency trading

Emerging markets

Equity underwriting

Undecided

Debt underwriting

Hedge fund services

Non-euro denominated corporate bonds

Other euro-debt trading

Non euro-derivatives trading

Stock trading

Leave

Non-euro denominated bonds

Other euro debt trading

Euro equity derivatives

Hit the link below to access the complete Bloomberg News article:

Will Brexit Trigger Exodus of Banks From London?: QuickTake Q&A

Deutsche Bank Is Nearing a Plan to Boost Capital by $10.6 Billion

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