London’s Other Financial Center Needs to Keep Banks Close

Way up in One Canada Square, in the Canary Wharf financial district, a map of post-Brexit London is flashing.

The electronic model on the 30th floor traces the route of a new rail line that George Iacobescu, captain of Canary Wharf Group Plc, hopes will prevent an exodus of bankers from his vast development east of the City of London.

Few places in greater London encapsulate the challenges posed by Britain’s vote to exit the European Union quite like Canary Wharf, home to JPMorgan Chase & Co., Citigroup Inc. and HSBC Holdings Plc. Iacobescu has spent the past 30 years transforming the development into a modern rival to the medieval Square Mile, about 2.5 miles west.


Dollar Ticks Lower Again on Divided Fed

Sterling Bears Feel the Heat After Retail Sales

U.K. Retail Sales Surge as Hot Weather, Pound Drop Fuel Spending

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam