|
City News Desk - Mayor comments 4:30pm
Banking giant Barclays is threatening to move its global headquarters to New York, if the UK continues with "over regulation" of banks, with the Mayor of New York Michael Bloomberg claiming last night “I hope they move here. That would be great for us." Barclays immediately responded to rumours circulating in the financial world that they were considering a move out of London with Chief Executive Officer Robert Diamond in a press conference said:
“London is where we want to be, Of course, it’s our obligation on behalf of our shareholders to look at the alternatives, but this is home and where we want to stay.”
Barclays former CEO John Varley who is still advising on regulatory warned the Treasury that banks would leave London if the banking commission "comes in a the extreme spectrum of possible forms". The Mayor of London, Boris Johnson, said:
"Barclays is a British bank that has quite literally laid down roots here with the cycle bike scheme it has sponsored over the last nine
months. It would be a tragedy to lose them. This underlines the fact that the threat and challenge to our successful financial service sector is real. We cannot afford to be complacent about competition and much as I welcome the hints in the recent Budget that the Chancellor understands the threat we face, we have to send ever clearer signals to these massive job and wealth creators that we do not take them for granted. We appreciate they have other options, but we want them to stay here in London."
Syed Kamall Conservative MEP for London said:
"We cannot continue punishing banks and risk the potential of company’s like Barclays going to New York and other financial centres. I am very concerned at how less attractive London is becoming as a centre of international finance due to EU regulations and the bashing of the financial sector from some politicians here in Britain."
Barclays employs 150,000 globally with 70,000 employed in the UK. photo credit: Natalie Mitrides
|
