And Credit Suisse moves its investment banking team to London.
Business Insider notes that a combination of changes, including: rising interest rates, a less zealous regulatory environment, tax cuts, and overall optimism among business owners will provide a much-needed profit boost for banks. Find out more about the 11 banking trends to watch out for in 2017 here.
Bloomberg reports that global banks in London may have to relocate 1.8 trillion euros ($1.9 trillion) of assets to the continent after Britain withdraws from the European Union, putting as many as 30,000 U.K. jobs at risk, according to Brussels-based research group Bruegel. Read more here.
According to Reuters, Credit Suisse is relocating its Dutch investment banking team from Amsterdam to London as the Swiss bank seeks to improve efficiency and profitability, a source familiar with matter said. Dutch newspaper, Financieele Dagblad, which first reported the news, said around six investment bankers would be impacted by the move. Read more here from Reuters.
Do you know more about this story? Contact us anonymously through this link.