Exclusive: Brewin Dolphin’s CEO on Brexit, pandemic market sentiment and why ESG is not so clear-cut February 18, 2021 As the City comes to terms with a new post-Brexit reality and slowly looks towards a post-pandemic recovery, City A.M sits down with the CEO of one of the Square Mile’s best-known investment managers, Robin Beer of Brewin Dolphin. Beer, who joined the firm in 2008, initially managed the Nottingham office and was regional director [...]
British music exports to hit £1bn by 2030 amid song rights boom February 18, 2021 The value of British music exports could double to £1bn by 2030 if the UK cashes in on the surging value of music rights and growth in new markets after Brexit, according to a new report. The rise of streaming services such as Spotify has fuelled a boom in music assets, with global revenues from [...]
City counts the cost of Brexit but eyes turn to new global opportunities February 16, 2021 As temperatures hit record lows in February, parts of London’s financial markets are feeling the cold as consequences of Brexit bed in. The much reported toppling of London as the continent’s top share-trading hub in January is a symbolic moment more than a significant economic shift, but it plays into a wider discussion about the [...]
Eurosceptic politicians form new post-Brexit City lobby group February 16, 2021 A group of Eurosceptic City figures and politicians have created a new UK financial services lobby group in a bid to trumpet the sector’s success post-Brexit. The body, launched yesterday, is called the CityUnited project and it aims to “combat and negate the EU’s actions” by “promoting bold new initiatives to exploit the UK’s expertise in [...]
Government report calls for regulations bonfire to give UK a ‘post-Brexit dividend’ February 16, 2021 The UK should slash regulation and overhaul the competitions authority to give the economy a post-Brexit boost, according to a report commissioned by the government. The report, written by Tory MP John Penrose, calls for the government to create a “Brexit dividend” by “replacing bureaucratic EU rules with modern, digital equivalents”. Penrose’s report, commissioned by [...]
EU financial services chief warns of long road ahead for UK-EU equivalence deal February 12, 2021 The EU’s financial services chief has warned the UK that “there cannot be equivalence and wide divergence” in financial regulation as the battle over the City’s future relationship with the bloc heats up. Mairead McGuinness also confirmed fears held by many in the City that the EU would demand to know the UK’s future regulatory [...]
Exclusive: Brexit a bigger headache for business leaders than Covid pandemic February 11, 2021 Brexit represents a bigger challenge to most UK businesses than the Covid-19 pandemic, as additional paperwork, unexpected costs and new regulatory requirements make life more difficult than temporary lockdowns. Business leaders have told City A.M. that Brexit is currently their number one headache, despite the government’s pledge that the UK-EU trade deal that was agreed [...]
London experiences massive drop in Euro swaps trading post-Brexit February 11, 2021 Trading in euro-denominated swaps has dropped by nearly 30 per cent in London since the end of the Brexit transition period on 31 December, with trade primarily shifting to New York, Amsterdam and Paris. According to new data from financial research company IHS Markit, published earlier today, euro swaps trading in the City of London [...]
Brexit crowns Amsterdam Europe’s top trading hub, ousting The City February 11, 2021 Amsterdam surpassed London as Europe’s largest share trading centre last month, as Brexit led London to lose business. Some €9.2bn shares a day were traded on Euronext Amsterdam and the Dutch arms of CBOE and Turquoise, the London Stock Exchange’s platform, last month – a more than fourfold increase from December, the Financial Times reported. [...]
Exclusive: Brexit hit to London may top £9.5bn a year without EU financial services deal February 10, 2021 As the heart of the UK's service sector economy, London is in line to lose up to £9.9bn a year if a post-Brexit deal on financial services doesn't protect the City, new research out this morning finds.