Re:Paris Eyes Luring 20K Bankers from London Amid Brexit Rup...
by user5994461 on Wednesday January 04, 2017 @03:37PM
(#13321819)
How much is it in percentage?
If London finance is 5 times Paris. It's enough to make it a major financial center yet it's laughable at the same time.
Re:Paris Eyes Luring 20K Bankers from London Amid Brexit Rup...
by vidarh on Thursday January 05, 2017 @02:35PM
(#13330567)
The competition isn't between London and Paris. It is about which EU cities will take the most business from London due to potential limits on market access.
It's not a question if banks will move some portion of staff out of London, but how many and where they go.
London does have more than Paris, but Paris and Frankfurt are the only two other EU cities that consistently get listed amongst the top global financial centres.
What exactly that means in hard cash depends on what you want to count and how, and so the rankings vary greatly depending on who you ask.
Re:Paris Eyes Luring 20K Bankers from London Amid Brexit Rup...
by user5994461 on Friday January 06, 2017 @02:11PM
(#13339228)
Well, if the "how many" is < 1%, I'd consider that equivalent to not moving.
Still no sign of movement.
The bank my ex works at has as many traders in Paris as in London, for example, and that's fairly common.
I don't doubt there are many French traders in London - these banks shifts staff and roles around as if they're commodities. But that doesn't change the fact that Paris has a large proportion of the EU financial industry. Not as large as London, but substantial enough for Paris to be a major financial centre.