Spanish Bank Alantra Partners Shrugs Off Brexit Fears
London remains a terrific talent magnet – especially for banks
Alantra Partners SA oversees 3.7 billion euros ($4.4 billion) and currently has 350 staff across 21 countries.
There are mounting concerns over Theresa May’s ability to negotiate a favorable departure agreement for the UK. But banks like Alantra continue to bet on London as remaining the pre-eminent financial capital of the world.
And they’re putting their money where their mouth is. Alantra bought London-based advisory Catalyst Corporate Finance last October and their Executive Chairman Santiago Eguidazu called the UK the ‘Most important mergers and acquisitions market in Europe.’
The investment bank’s move flies in the face of other financial services firms that are actively creating contingency plans in case the UK’s departure from the EU results in the loss of passporting rights across the bloc. What we’re seeing is that banks truly don’t want to relocate people out of the UK. London is a great place to work and live! Employers, especially banks, know that London is a terrific magnet for talent.
But other financial icons, like Goldman Sachs, Deutsche Bank and Bank of America, all are said to be increasing operations in places like Frankfurt, Dublin and Paris as a hedge against the loss of passporting rights. And still other financial services businesses, like ING Group (the largest Dutch group), are moving trading jobs to London from Amsterdam and Brussels.
So, whatever your point of view, Brexit is certainly fuelling many international relocations creating a lot of work for relocation professionals. Saunders 1865 has been helping banks move their people internationally for more than 30 years. These peoples’ moves must be handled sensitively and with immense care and attention to detail.
Failure to provide good relocation support can cost an employer a fortune in wasted costs and lost opportunities. Our role is to ensure that never happens!
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