Banks will be among the many businesses setting up offices in Amsterdam. JP Reis can support such moves and have been busy in Europe.
Last week the European Medicines Agency lowered the EU flag at its Canary Wharf address ahead of its relocation to Amsterdam. Big name Japanese electronics giants Sony and Panasonic have made similar moves. In Financial Services The Commonwealth Bank of Australia appears to be going in the same direction while their countrymen from Macquarie are, like JP Reis, setting up an office in Dublin.
London Banking Offices Relocating to Europe
With the level of uncertainty around Brexit not set to dissipate following the formal withdrawal date of March 29th, other financial firms are likely to at least move some functions, including EU passporting, out of London. Companies like ours can help to fit out and equip financial trading offices for comfort, productivity, ambience and compliance and we have been busy in Europe recently.
The big decision is where to move to. Greg Collins wrote a piece back in 2015 about commercial real estate across the world’s financial centers and the trade-offs between cost, infrastructure, the presence of key players, specialism versus generalism, and global connections.
In 2017, Elva Lumsden wrote a more culturally focused blog following the Brexit vote and our decision to establish an EU base. She was right to say that while some firms will choose big hubs like Paris or Frankfurt, smaller cultural steps like Amsterdam, Dublin or even Copenhagen may be more attractive for firms attempting to relocate an established workforce.
With Brexit looming, it still remains to be seen what will happen and this will still be the case in April. What seems sure is that the industry is set for a busy year and that goes for JP Reis too.
