You need to enable JavaScript in order to use the AI chatbot tool powered by ChatBot

UK to welcome foreign investment banks

Andrew Barnes our consultant managing the role

A regulatory shift will make the UK more welcoming to investment banks from countries such as China, increasing the countries links with emerging economies as well as potentially generating new jobs in the south-east and elsewhere.

Furthermore, this move could bolster London's status as a financial centre as the capital continues to attract financial services providers from across the globe.

In the past, pressure was placed on non-EU lenders operating branches in the UK to become standalone subsidiary operations with their own capital and liquidity buffers, which is a considerably more onerous task, reports Reuters.

Initially, this scheme is likely to be targeted at Chinese banking operations, which are keen to open up in new markets as the country's economy continues to expand and mature.

However, in the future other non-EU operations could look to launch branches in the UK, with emerging economies beginning to engage in a two-way process of investment rather than simply welcoming cash from their more developed counterparts.

There are 145 branches of international investment and retail banks in Britain, accounting for 30 per cent of assets in the country's financial system.

But despite this shift in the regulatory environment, there are still a number of legislative demands banks will need to adhere to if they wish to operate in the UK.

The rules, which the Bank of England has put out to public consultation, mean that firms need to have a strict home supervisor, deposits insured within a UK scheme and the proven ability to wind up quickly without losing access to deposits.

"Resolution will be a key deciding factor in the PRA's judgements and is ultimately where it will place most emphasis when forming a view on its risk appetite towards branches operating in the United Kingdom," said the central bank.

The Prudential Regulation Authority, the Bank of England's regulatory arm, will require that the foreign organisations report data to them on a regular basis in order to keep track of their operating model.

11/04/16
jobs

Related jobs

Group Reporting Manager

Salary:

£65,000 - £73,000 per annum + Excellent Benefits Package

Location:

Manchester, Greater Manchester

Industry

Consumer & Retail

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£70,000 - £80,000

Job Discipline

Qualified Finance

Contract Type:

Permanent

Description

Exciting Group Reporting Finance Manager for a leading retail organisation based in Manchester offering hybrid working paying circa £70,000.

Reference

BBBH184314

Expiry Date

01/01/01

Nathan  Jones

Author

Nathan Jones
Find out more
Interim Financial Controller

Salary:

£400 - £475 per day

Location:

London

Industry

Private Equity

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£350 - £450

Job Discipline

Qualified Finance

Contract Type:

Contract

Description

PE-backed SME seeks Interim Financial Controller for financial ops & strategic planning. Strong data analysis & PE experience required.

Reference

BBBH183888

Expiry Date

01/01/01

Jaden Alie

Author

Jaden Alie
Jaden Alie

Author

Jaden Alie
Find out more
Transactional Finance Manager

Salary:

Negotiable

Location:

Horsham, West Sussex

Industry

Technology

Qualification

None specified

Market

Commerce & Industry

Salary

£60,000 - £70,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

Our high growth client in the tech/SAAS industry are looking for a new Transactional Finance Manager to join their finance team.

Reference

129384

Expiry Date

01/01/01

Harry Latham

Author

Harry Latham
Find out more
Tax Accountant

Salary:

Up to £45,000 per annum

Location:

Leeds, West Yorkshire

Industry

Business Services

Qualification

None specified

Market

Financial Services

Salary

£40,000 - £50,000

Job Discipline

Tax

Contract Type:

Permanent

Description

.

Reference

BBBH184306

Expiry Date

01/01/01

Aleksandra  Taranovskaja Find out more
Credit Controller

Salary:

£30,000 - £32,000 per annum

Location:

Leeds, West Yorkshire

Industry

Business Services

Qualification

None specified

Market

Commerce & Industry

Salary

£30,000 - £35,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

Credit Controller in Leeds

Reference

BBBH184266

Expiry Date

01/01/01

Cameron  Walsh

Author

Cameron Walsh
Find out more
Financial Services Programme Director

Salary:

€100,000 - €110,000 per annum

Location:

Dublin City Centre, Dublin

Industry

Business Services

Qualification

None specified

Market

Financial Services

Salary

£80,000 - £100,000

Job Discipline

Project & Programme Management

Contract Type:

Permanent

Description

Programme Director - Financial Services - Dublin

Reference

BBBH183758

Expiry Date

01/01/01

Cillian Mcevoy Find out more
Financial Services Strategy Consulting Manager

Salary:

€70,000 - €85,000 per annum

Location:

Dublin City Centre, Dublin

Industry

Business Services

Qualification

None specified

Market

Commerce & Industry

Salary

£70,000 - £80,000

Job Discipline

Change Management

Contract Type:

Permanent

Description

Financial Services Strategy Consulting Manager- Dublin

Reference

BBBH182070

Expiry Date

01/01/01

Cillian Mcevoy Find out more
View all jobs