Time has run out for London-based banks pinning their hopes on a Brexit deal that will save them from transferring swaps contracts to EU27 hubs. At least two dealers have now kick-started processes that will allow contracts to be moved en masse, with the mooted UK and European Union withdrawal agreement facing fierce opposition in the UK Parliament.
UBS is preparing to move its European investment banking hub from London to Frankfurt through a combined cross-border merger and Part VII transfer
- Bank risk manager of the year: UBS
- Asia moves: BlackRock picks new Asia head, Credit Suisse boosts regional solutions, and more
- We need a different approach to supervisory stress-testing
- People moves: Asia hires at Credit Suisse, new UBS data role, NatWest takes UBS's Duclos, and more
- Risk solutions house of the year: HSBC