[News] Morgan Stanley begins move away from London

[Lincoln Imp]

For years I've been reading on NSC that the UK is too reliant on the financial and service industries. Every chancellor we've had is in the pocket of bankers who for the last few years have been viewed as the enemy by most.

Hopefully this situation will be a kick up the arse for the next chancellor and they will make and effort to build on what industry we have left and re-skill the workforce so it's in a position to trade with the rest of the world.

Yes, we might be too reliant on financial services and the taxes they pay and need to develop new industries. But why on earth would we want to trash the ones we've got?

 

[Hillian1]

We are doomed!!! It's a good job the hospitals are stuck to the ground or they might leave as well.

It's all cool, the £350 million a week Farrage promised will build new ones.

Oh.

 

[sir albion]

There's no loyalty in business especially the banking industry....Jump ship at any hint of problems sums them up...

 

[ROSM]

Or it could be that Dublin/Frankfurt/Zurich/Paris dont have the amount of people with the necessary skills for all these major banks to relocate there , and they KNOW they will never get enough people to move to a dead and alive hole like Frankfurt and they were basically peddling scare stories in the hope of influencing the vote of people who will be taken in .If anything London AND other European financial centres will lose out to places like Hong Kong and Singapore as capital moves eastwards.

Or it could be they say 'up yours little England's, you aren't coming over here to work, stay in.the country with the rest '

 

[Biscuit]

Would be interesting to see if the EU collapses now with other countries looking for independence. If it does collapse, London might well keep the financial services crown.

 

[Seagull58]

Well, the one big contract we had for this summer has gone to shit overnight due to the exchange rate.

Everything signed, all production space allocated well in advance, now we go from 8% margins to a 1% loss.

So the quandary is, honour the contract but make an overall loss or terminate the contract and although no operating loss is incurred nothing at this short notice could be won to fill the gap, this in turn means I have staff doing nothing and still being paid.

F**king divs.

Didn't you buy forward to fix the exchange rate? It would seem to be the sensible thing to do before the referendum.

 

[alfredmizen]

Or it could be they say 'up yours little England's, you aren't coming over here to work, stay in.the country with the rest '

I dont think you actually read my post did you ?

 

[Stat Brother]

At least anyone commuting from Sussex should be able to get to their new desk quicker...





cheaper...






less stressed..





not held to ransom by the weather.

 

[Cian]

There is precisely **** all office space available currently in the Dublin Docklands where pretty much every bank tries to move if moving to Dublin - and UK based workers will probably have a few hoops to jump through to go to Frankfurt. They'd have to move many staff as neither city is going to be able to provide them with a complete re-hire.

So its not going to happen quickly although I do suspect there will be quite a movement to EU cities with English speaking populations - Dublin, Amsterdam, Copenhagen, etc, over a number of years.

 

[Poyningsgull]

Do you mean the Transit plant in Swaythling (Southampton)? There were thousands there in the 80s but that was down to about 400 when it closed a couple of years ago. Was a sad day, locally. I personally know four people who worked there (only one of them at the point it closed). This isn't Top Trumps though - whatever you think of the banking industry, YOU and I need the money they generate and the taxes they pay.

Especially 0% corporation tax they paid in 2014! Despite billions in profits. Ethically bankrupt, the lot of them and good riddance

 

[Tom Hark Preston Park]

There is precisely **** all office space available currently in the Dublin Docklands where pretty much every bank tries to move if moving to Dublin

Might be mistaken on this one, but didn't you ROI Tigers build an entirely new town about an hour from Dublin with zero in the way of infrastructure? Maybe it could be your new Canary Wharf style financial hub? Cheaper than knocking it down. Just a thought.

 

[HastingsSeagull]

Good chance I'm staying in Asia now although we are waiting to see how things go for 6 months (would have been here that long anyway). Today did sort of change the end goal a bit though in terms of business and money. Fingers crossed all gets negotiated and we have amazing people in place who won't create even more waste and ineficency (never could spell)

 

[carlzeiss]

http://www.independent.co.uk/news/b...eferendum-jobs-dublin-frankfurt-a7100911.html

Morgan Stanley denies moving 2,000 London jobs to Dublin and Frankfurt

The American investment bank said it has no official plans

 

[Blue Valkyrie]

http://www.independent.co.uk/news/b...eferendum-jobs-dublin-frankfurt-a7100911.html

Morgan Stanley denies moving 2,000 London jobs to Dublin and Frankfurt

The American investment bank said it has no official plans

Waiting to see if Edinburgh is a better option ?

 

[Cian]

Might be mistaken on this one, but didn't you ROI Tigers build an entirely new town about an hour from Dublin with zero in the way of infrastructure? Maybe it could be your new Canary Wharf style financial hub? Cheaper than knocking it down. Just a thought.

They built the infrastructure in the interim - well, some of it. It's fully occupied now

 

[saafend_seagull]

They're our client and another one of our clients, big investment bank has already started moving their operational staff to Luxembourg (not linked to brexit though possibly)


Sent from my iPad using Tapatalk

 

[portslade seagull]

Wasting no time at all, Morgan Stanley have already started their flight from London with 2000 jobs moving to Dublin and/or Frankfurt.

But how many jobs were lost with the banking crisis 100 times more that so that is a mere pittance

 

[portslade seagull]

http://www.independent.co.uk/news/b...eferendum-jobs-dublin-frankfurt-a7100911.html

Morgan Stanley denies moving 2,000 London jobs to Dublin and Frankfurt

The American investment bank said it has no official plans

Bluster all bluster

 

[NooBHA]

Cynical timing, speaks volumes about the morals of Morgan Stanley who played a big part in the financial crash. Good riddance.

Billions of overseas wealth is invested in Morgan Stanley and many other banks. if that money doesn't fllow the UK any more we cannot tax it which means billions lost in taxes. The jobs lost is bad enough but the money lost to the UK in other areas if they move over the next 20 years we need to generate the income from somewhere else. I am not saying the UK cannot do it in other ways but I would rather no to have needed to.

Its no different to a shop having a customer who spends thousands in your shop every year. You have a member of staff who is rude to them and they say OK I will take my business elsewhere'' You say ''Good Riddance'' I never liked you anyway.

Now sales are down. Who do you blame ? For me you blame the sales assistant who was rude to them. Well in this instance the sales assistants who were rude to them were Nigel Farage and Boris Johnston. But instead we will now promote them, just in the hope they might JUST MIGHT be able to bring in the sales they lost plus more besides.

I hope the banks don't pull out of the UK I really do and I want to move on from being angry and I will do but for the moment - We have gambled and we can't even cash out or sell the house because we are sitting in a ''losing''' or ''negative equity'' position

 

[melias shoes]

Calm down. B.S. in full flow.
http://www.independent.co.uk/news/b...eferendum-jobs-dublin-frankfurt-a7100911.html