Bank of NY Mellon has some good Brexit job loss news

Among global banks, many of which plan to move hundreds of jobs from London because of Brexit, Bank of New York Mellon is an exception.

Bloomberg News reports that the firm, which has about 5,000 U.K. staff, sees fewer than 20 additional markets-related positions being needed in offices in Frankfurt, Paris, Dublin, Luxembourg and elsewhere, BNY Mellon’s chairman for Europe, the Middle East and Africa, Michael Cole-Fontayn, said last week. That’s because the firm has a fully licensed bank in Brussels from which it can sell most of its services around the European Union already.

“We are very well-positioned for it,” Cole-Fontayn said in an interview in London, referring to Brexit. “Not least because that has been our business model all along. If you aspire to be the investments company for the world, you had better be in all the major countries to a meaningful extent.”

Hit the link below to access the complete Bloomberg News article:

BNY Mellon Sees Tens Not Hundreds of Jobs Affected by Brexit

Paul Singer’s Flagship Fund Raises $5 Billion in 24 Hours

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