Tel: London 'secure' as Europe's financial capital - Spear's Magazine

Tel: London ‘secure’ as Europe’s financial capital

London’s position as the financial capital of Europe is secure according to Junichi Ujiie, the chairman of Nomura, one of the world’s largest investment banks.

London’s position as the financial capital of Europe is secure according to Junichi Ujiie, the chairman of Nomura, one of the world’s largest investment banks.

In an interview with The Daily Telegraph Mr Ujiie claimed that the bank had detected “a more realistic and pragmatic approach” in recent months at a government level. The Nomura chairman had warned at the start of the year that bonus tax and over-regulation threatened London’s position as a leading financial capital.

The public declaration of support from the Japanese bank will be welcomed by politicians. It comes amid mounting speculation that some of the UK’s own banks, including HSBC and Barclays, are considering shifting their headquarters overseas.

“We had this argument several years ago when the euro became a strong currency. People asked should we move people from London to Frankfurt? Some banks really moved,” said Mr Ujiie. “[But they later concluded] Frankfurt is not really the place to live, let’s go back to London.”

To read the full story, visit telegraph.co.uk



 

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