London Review: Post Brexit Financial Landscape

Abstract

Brexit induced earlier estimation on huge relocation of employees and business from London indicating sharp contraction of the financial geography of the city, has later been evaluated as an exaggeration. Information from existing literature in the said area and various reports published during the Brexit process have brought the main foundation leading to content analysis. It is found that gradually the relocation volume has been squeezed and corporate offices retreated from their previous huge relocation plan. But later gradually silent relocation has increased from a wide range of financial fields. Consequently, resilience of London in global financial system is evident, despite probable latent shock in the long term may not be overlooked. The prospect of the city of London in terms of financial business would be narrowed against the rise of specialized financial centres in fragmented EU-financial market though intra EU competition is evident. Still being free from EU bindings, the capacity to apply more individual strategy from its own would open new opportunity for market expansion for London as a prime financial centre. But to compensate for the Brexit loses, British vow to build a “Global Britain” is yet to explore new financial market in coming years. Even making better ties with the EU is vital enough for retaining the glory as a prime financial city.