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Actually, American bankers are still keen to move to Europe

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"Isn't continental Europe great, kids?"

While in general U.S.-based financial services professionals are less concerned about the fallout from Brexit than their European peers, many appear poised to capitalize on whatever knock-on effects transpire from the UK leaving the EU.

After the results of the Brexit referendum were announced, we conducted a survey of people working in the financial services industry around the world about their views on how it might impact their career path. When we asked whether they would move to another European financial center if finance jobs moved out of London, 45.3% of North American respondents said yes, they would, compared to 23.5% who responded no, they would not (31.2% responded “I don’t know”).

As a follow-up, we asked survey respondents to explain their reasoning. Many people said that it would depend on the specific opportunity, offer, city and country.

Sign me up, I’m ready to move to Europe

Here are some representative responses from Americans who would be willing to move to a continental European city for the right job opportunity:

“Working elsewhere in Europe would be interesting.”

“Switzerland looks good.”

“The Eurozone is more stable [than the UK], in my opinion.”

“I would follow work wherever it migrates.”

“Need to be where the action is.”

“Yes, if the EU member showed certainty.”

“If the risk reward was there, I would be willing to take on the challenge. Plus, I have already lived in Frankfurt.”

“Paris is always better than London, with or without finance.”

“Follow the money.”

“I prefer continental Europe.”

“Financial centers need to be more open, diverse and internationally oriented. [Continental Europe] is all of those things.”

“Lack of political uncertainty and a greater degree of clarity would make it more appealing for me to move [to continental Europe] with my family.”

“For the right number I’d move anywhere.”

“I would live in Ireland or on the continent.”

Hell no, I won’t go

Here are some representative responses from Americans who would not be willing to move to a continental European city, regardless of how attractive the job opportunity might be:

“Working anywhere but In the Anglo-sphere would be like operating in the Dark ages.”

“The EU is declining, while ‘Brexit’ provides the UK with the impetus to prosper.”

“I’m only interested in NYC.”

“No. I recall when the EU first launched some banks moved to Brussels, then moved back to the UK, which was a mess.”

“No place like home – the USA.”

“NO OTHER CENTRE CAN MATCH LONDON.”

“Other European capitals lack the market depth, infrastructure and international connectivity of pre-Brexit London and certainly, New York, Hong Kong and Singapore. Asia is now far more attractive as an alternative to London and NY.”

“Security issues due to immigration policies in the EU and the continued control of the EU form Belgium.”

Photo credit: Robert Daly_GettyImages

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