First brexit bankruptcies and redundancies

[AtW]

Alan Johnson was always too New Labour for my tastes, but he's not a bad politician.

Very likely future leader

[diseasex]

Sources within Morgan Stanley say it has already begun the process of moving about 2,000 of its London-based investment banking staff to Dublin or Frankfurt. And it has a taskforce in place.

The jobs which would be moved from the UK would be in euro clearing but also other investment banking functions and senior management.

The American investment bank needs to avail of the passporting system which allows banks to offer financial services in all countries in the EU without having to establish a permanent base in that member state.

The president of Morgan Stanley, Colm Kelleher, told Bloomberg two days ago that Brexit would be “the most consequential thing that we’ve ever seen since the war”.

...

[NigelJK]

and W(outside of London)GAF?

Plus it's their Euro clearing house so nothing to do with their Global banking empire.

[MrMarkyMark]

and W(outside of London)GAF?

Plus it's their Euro clearing house so nothing to do with their Global banking empire.

+Planned for a while anyway.

[Old Greg]

How many other jobs in the economy would these 2000 jobs be supporting?

[MrMarkyMark]

How many other jobs in the economy would these 2000 jobs be supporting?

Probably plenty in the black economy

[MarkT]

I see the knee-jerk panicky fluster-monkeys are out in force this morning.

So....will be be knee-jerk if you or yours lose your job because of this?

[SlipTheJab]

I've heard Suity has lost his job.

So its business as usual then

[VectraMan]

Alan Johnson was always too New Labour for my tastes, but he's not a bad politician.

I always thought he was the least bad of that lot. I'm not a leftie but Alan Johnson vs. Boris may make me think.