An analyst report has renewed speculation among some investors that the British bank Barclays might leave London for New York.
The report, published by two UBS analysts titled “The first to leave?”, gives a list of reasons why there apparently is “little option for Barclays but to reconsider domicile.”
Executives of large British banks, including HSBC, Standard Chartered and Barclays, had been threatening to move their headquarters abroad ever since a government-appointed banking commission here hinted it would consider splitting investment and retail banking to make Britain’s financial sector more stable.
The warnings were widely seen as a tactic by the banks to scare the government into abandoning plans for stricter financial regulation. The chief executive of Barclays, Robert E. Diamond Jr., was among banking executives who recently declared their firms’ commitment to Britain.
“Concern over ‘too big to fail’ dominates the U.K. regulatory agenda but rather than Barclays being too big, it may well be that the U.K. is too small”
No comments:
Post a Comment