June 10, 2019 posted by

JPMorgan’s Kian Abouhossein maintained a cautious stance on the banking sector, following the U.K.’s vote to leave the EU. Abouhossein downgraded the. JPMorgan analyst Kian Abouhossein is not impressed with Deutsche Bank. Rank, Analyst, Firm. 1, Berry, Sheena; Lindqvist, Jens, N+1 Singer. 2, Keher, Nick , RBC Capital Markets. 3, Karpova, Anastasia, Kempen & Co.

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abouhosswin The firm reached the figure by analysing relocation, hiring and redundancy costs, new building and rent costs and other infrastructure costs.

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Kian Abouhossein

Over five to 10 years, Abouhossein expects investment bank employee numbers in the UK to fall and with a concentration in one European hub to emerge over time. The brokerage also downgraded many U.

Benzinga is a fast-growing, dynamic and innovative abouhowsein media outlet that empowers investors with high-quality, unique content. The analyst explained the base case scenario was Better Than Peers The analyst Sales and trading as well as risk management roles may move from the UK to the EU, following by jobs in balance sheet, capital and IT, Abouhossein said. Benzinga – Feed Your Mind try pro. The note highlights Paris, Madrid and Frankfurt as “big enough to cope with a potential influx of financial services employees”, partly due to high availability of office space.


Brexit could ‘fragment’ European investment banking – JP Morgan – Financial News

A Peek Into The Markets That hub, Abouhossein wrote, would need to have a strong sovereign rating, sizable GDP and available real estate. He reconfirmed a cautious view on the banking sector, while estimating EPS forecast Analysts at Coalition in a note on July 8 pointed to Dublin, Madrid, Paris and Frankfurt as “primary candidates” for a new European financial hub, saying that “banks could further leverage the cities where they have moved some of their support staff over the past two years”.

JP Morgan’s Kian Abouhossein. That could means that “even without the establishment of a branch, UK-based firms could provide investment services or perform investment activities to eligible counterparties and to professional clients”. In the note, he said: Compare All Online Brokerages.

However, Abouhossein cited investment banks’ need for clarity around passporting as they shape their future business strategies. Abouhossein also examined a “worst case scenario”, where the UK left the union with no clarity or agreement over passporting. Free Account Login Click here to access your premium account.

The Week Ahead In Biotech: Editor’s Picks Bitcoin peaked one year ago: In lieu of comments read from the perch of the Benzinga Pro news desk, we determined it would be of value to all our readers for us to highlight some of the recent JP Morgan’s Abouhossein does not expect banks to move staff immediately, but said they “will not wait until formal Brexit either to make decisions”. Scroll for more of this story.

Brexit could ‘fragment’ European investment banking – JP Morgan

He added that banks are likely to take commercial space leases in the short term. Images provided by Deposit Photos.

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The shift of staff from London to other European venues could cause an initial “fragmentation of the industry across Europe due to lack of ‘infrastructure in one location”, they wrote. Goldman Sachs decided Friday night was a good time to tell the world how bearish it is ahead of the Q1 earnings season. In a note published on July 11, Abouhossein, head of JP Morgan’s European banks equity research team, said the Brexit vote had led to “structural uncertainty” for investment banks, particularly due to a “lack of clarity” on its implications for passporting rules that allow banks to sell products and services from a branch in one EU country to others.

Barron’s Picks And Pans: The analyst estimated downward revisions in EPS forecasts by by an average of 13 percent for Eurobanks, in-line with the decline in their shares following the Analyst Kian Abouhossein said following the U.

Tech will be heart of next financial crisis. Five things you need to know about Brexit and the EU’s ‘third country’ regime French unite to lure financial services to Paris No hiring freezes, but a chill blows through investment banks Brexit could see one in five banking jobs leave London – study.