British Banks?

jimjames

theEnd wrote: »

You do know what the H and the S stand for?

And the B doesn't stand for Britain either!

System

Are people really surprised - unless they conduct all their business in the UK, then loosing access to EU/EEA passporting is a fairly big deal.

For example, the Swiss don't have it and had to setup offices elsewhere in Europe - including London.

It doesn't take a genius to work out these will leave.

bigadaj

It's likely to have an effect but the quantum of that remains to be seen.

Paris is an odd choice, Zurich and Geneva are both bigger banking centres, and as you point out they are outside the EU.

Shakin_Steve

Holland (president, not country) did say he was going to try to pinch our banking business. There may have been..........ermmmm........talks.

YorkshireBoy

Shakin_Steve wrote: »

Holland (president, not country) did say he was going to try to pinch our banking business.

Let's hope Ma (Prime Minister, not your mum) puts a stop to that then.

mgdavid

Shakin_Steve wrote: »

Holland (president, not country) did say he was going to try to pinch our banking business. There may have been..........ermmmm........talks.

spell his name right and you could have saved yourself the bit in brackets :eek:

Jo_Blogs

Shakin_Steve wrote: »

Halifax and Swindon?

:rotfl::rotfl::rotfl:

Nick_C

bigadaj wrote: »

Paris is a slightly odd choice but that their prerogative.

Paris is not an odd choice at all. HSBC bought CCF (Cr!dit Commercial de France) in 2000, and renamed it HSBC France in 2005. This wholly owned subsidiary gives them a French Banking License, and will allow them to move their EU functions there if we don't get passporting rights.

Other UK Banks will be scrambling around for European Banking Licenses and may also have to lose jobs. HSBC is simply ahead of the game.

HSBC is an international company but is based in London and it's shares are traded on the LSE. They did consider relocating to the Far East, but decided last year to remain in the UK. They employ a lot of people here and pay Corporation Tax in the UK.

OP; I'm all in favour of buying British and boycotting EU goods if the EU play dirty with us, but HSBC is good for Britain. You are picking on the wrong target.

Edit: And why does MSE's bloody silly profanity filter stop me using e acute? (Rhetorical question.)

colsten

bigadaj wrote: »

Paris is an odd choice, Zurich and Geneva are both bigger banking centres, and as you point out they are outside the EU.

A Swiss banking licence is not much use for doing business in the EU.

YorkshireBoy wrote: »

Let's hope Ma (Prime Minister, not your mum) puts a stop to that then.

She would be able to do precisely nothing if France - or any country for that matter - offers a UK company a deal that does not violate international law. She could probably have called favours from France behind closed doors before the Brexit decision. Not any more now. Time to wake up to reality.

YorkshireBoy

colsten wrote: »

She would be able to do precisely nothing if France - or any country for that matter - offers a UK company a deal that does not violate international law. She could probably have called favours from France behind closed doors before the Brexit decision. Not any more now. Time to wake up to reality.

Agreed. It wasn't a serious suggestion to "hope".