Will British companies move HQ to Europe after Brexit?

brexit, finance center, Paris financial center, london finance center, brexit effects, European Union

The race to be the new London has started after Brexit decision of UK. Frankfurt, Paris, and Dublin have been the most frequently mentioned, but Amsterdam, Luxembourg, and Jersey are also in with a shout.

According to the information provided by Bafin, the supervisory board of the German financial industry, Germany’s leading regulators met with about 50 delegations to explain how foreign banks could move their activities to Germany after the brexit. Delegations were also informed about how to obtain a banking license in Germany.

Peter Lutz, head of bank surveillance at Bafin, said that the authorities want to help the bankers who consider moving.

PARIS WANTS TO BE THE NEW FINANCE CENTER

In other news, French authorities will go to London next week to tell the financial advantages of Paris to the companies that will consider moving from London after Brexit.

Valerie Pecresse, president of the Paris region, and Gerard Mestrallet, president of France’s financial sector lobbying agency, will meet with managers of BlackRock, Bank of America and other financial institutions to present a report on the financial advantages Paris offers.

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Earlier, HSBC, Europe’s largest bank, reported that it could move some of its operations to Paris.

Tags: brexit, finance center, Paris financial center, london finance center, brexit effects, European Union

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