View more on these topics

EU asset managers expect to leave UK following Brexit

Less than half of the EU-national asset managers working in the UK plan to continue doing so after Brexit, a survey by the Chartered Financial Analyst Society shows.

According to Bloomberg, 42 per cent of EU nationals said they would stay in the UK, 16 per cent said they were already planning to leave and the remainder were undecided.

The vast majority (91 per cent) of EU respondents said the competitiveness of the UK as a financial centre had deteriorated since the Brexit referendum in June last year. In comparison, 71 per cent of UK respondents thought it had.

CFA Society UK chief executive Will Goodhart says: “While many of the outcomes of Brexit remain unclear, we can certainly expect a change in the profile of the investment management workforce in the U.K. Many EU professionals working here intend to move to other markets once Britain has left. We may see this increasing over the coming months.”

The survey involved 1,109 investment professionals. Around 330 were EU nationals.

Recommended

Govt eyes 2,000 more staff to deal with Brexit

The Government is trying to stop its resources being overstretched by Brexit as it looks to take on another 2,000 staff. While civil service headcount has already gone up by 1,500 since the referendum vote, ministers are each now vying for a cut of additional personnel being brought on board, according to the Financial Times. […]

1

Govt ‘alive’ to Brexit risk for expat pensions

The Government has said it ‘alive’ to the risks Brexit could pose to expat pensions after starting talks with the industry over safeguards. The chair of the influential Treasury select committee Nicky Morgan wrote to Chancellor Philip Hammond last month sounding a warning over the future of long-term pensions and insurance policies that are currently sold by UK companies […]

2

Brexit: Govt tells City it plans to break with EU regulation

The Government has outlined plans for post Brexit financial services regulation in the UK to ultimately diverge from the European Union. Brexit secretary David Davis met with City leaders last week at Chevening, foreign secretary Boris Johnson’s country residence, the Financial Times reports. Davis told a breakout session for financial services that the UK would lose potential competitive gains […]

Mark-Carney-with-bank-note-in-background-700.jpg

Carney: Brexit is harming UK and transition agreement is needed

Mark Carney has told a press conference today that Brexit is harming the UK before it has even happened and that the country needs a transitional arrangement to its future relationship with the EU. The comments followed the Bank of England’s decision to hold rates at 0.25 per cent as it downgrades its forecast for […]

Value remains within European equities

By Rob Burnett, Neptune European Opportunities Fund

In recent months, investors have become more pessimistic about both the European and the US economic outlook and yet stockmarkets have pushed on to new highs. Some would argue that this is a worrying divergence. We would take the opposite view. This appears to be classic bull market behaviour. A wall of worry has been rebuilt, and stockmarket resilience should be taken as a sign of strength. The market is discounting an improving economic outlook ahead, particularly in the south of Europe.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. More accurate headline based on the survey results would be: “Only 1 in 6 EU fund managers planning to leave after Brexit”, given that only 16% have made the decision to leave whilst nearly 3 times that number are definitely staying!
    If those who are undecided make their decision in the same ratio, then over 80% of EU fund managers would be staying…but I guess that wouldn’t sit well with the anti-Brexit views of the writer!!!

  2. Vive projet du peur!

Leave a comment