Global Business and Finance Hub
London Still Europe’s Finance Hub Post Brexit
There is no denying that many politicians and business leaders will be looking at the opportunities available when Britain leaves the European Union.
There will be a strong desire to bring many of the leading financial institutions to cities across Europe. Destinations like Hamburg, Paris and Dublin have all been cited as locations where the top financial companies may end up if companies flee after Brexit but it looks as though this may not happen.
At this point in time, London is still Europe’s finance hub and it intends to still be the number one option post Brexit. It also seems as though many people and firms are still considering London to be the place when it comes to developing digital technologies that are primed for the financial sector.
FinTech at the Forefront of London
There are still many exciting FinTech jobs in London
A study showed that of all of the job vacancies for the FinTech industry, 79% of them have been located in London.
London has witnessed a rise in job postings by 2% per month in 2017 and as of late November, there were 1,458 jobs on the market.
Joblift is the company behind this research and they show that London is outstripping Berlin, the capital of Germany and a city tipped to take over from London if Brexit prevails, with respect to the volume of jobs that are posted and with respect to the rate the job market is growing at.
More than 3,300 FinTech are listed in London at this point in time, and this is being carried out with the backdrop of Brexit. Even though this is in the background and many firms are making plans to ease their next step in Brexit occurs, it seems as though there are still many people and businesses looking to stabilise their position in London and with the FinTech sector.
There is a great deal of confidence in London, regardless of what may happen in Brexit and there are many reasons for this. This is a city that has a lot to offer and it is a city that many people feel at home.
It is a city that offers tremendous transport links and with English being the native tongue, it is a city where there are few barriers to global businesses and entrepreneurs. English is still the language that brings so many industries and sectors together from around the world and having a London presence is a positive factor for so many companies.
There is a level of confidence in London
These are aspects that mean there are bonds and ties which Brexit cannot disconnect or cut, and this is why a lot of people have confidence about the FinTech sector remaining in the English capital.
This has been supported by pledges from the UK government which vows to back the start-up scene and prominent figures like Natalie Ceeney, the Chair of Innovate Finance, believe that the mechanisms are in place for London to remain central to the development of digital innovation.
In fact, after Brexit, the UK Government will be looking for ways to promote the economy and the Governor of the Bank of England, Mark Carney, has backed calls for the FinTech sector to lead the way forward into a new era for London and the whole of the United Kingdom.
Carney has also pledged support to develop a financial system that allows innovation to occur without compromising on security or the robustness of the market.
There are many questions waiting to be answered with respect to Brexit, but with respect to the FinTech sector in London, there is a great deal of confidence in retaining the status quo.
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