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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Analysts at Kain 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”.
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Better Than Peers The analyst 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.
He added that banks are likely to take commercial space leases in the short term. The analyst estimated aabouhossein revisions in EPS forecasts by by an average of 13 percent for Eurobanks, in-line with the decline in their shares following the A Peek Into The Markets 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.
He reconfirmed a cautious view on the banking sector, while estimating EPS forecast Barron’s Picks And Pans: Goldman Sachs decided Friday night was a good time to tell the world how bearish it is ahead of the Q1 earnings season. Market in 5 Minutes. Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.
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. Scroll for more of this story. If you have any questions as it relates to either of the three newsletters, please feel free to contact us at ZING.
However, Abouhossein cited investment banks’ need for clarity around passporting as they shape their future business strategies.
The Week Ahead In Biotech: That hub, Abouhossein wrote, would need to have a strong sovereign rating, sizable GDP and available real estate. The analyst explained the base case scenario was Analyst Kian Abouhossein said following the U.
JPMorgan’s top bank analyst slammed Deutsche Bank – Business Insider
In the note, he said: JP Morgan’s Abouhossein does not expect banks to move abouhossekn immediately, but said they “will not wait until formal Brexit either to make decisions”. Compare All Online Brokerages. The firm reached the figure by analysing relocation, hiring and redundancy costs, new building and rent costs and other infrastructure costs.
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 Free Account Login Click here to access your premium account. Over five to 10 years, Abouhossein expects investment bank employee numbers in the UK to fall and with a concentration abouhowsein one European abouhpssein to emerge over time.
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”. JP Morgan’s Kian Abouhossein. Images provided by Deposit Photos. 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 abouhossien products and services from a branch in one EU country to others.
Brexit could ‘fragment’ European investment banking – JP Morgan
Kiam also examined a “worst case scenario”, where the UK left the union with no clarity or agreement over passporting. Benzinga – Feed Your Mind try pro. The brokerage also downgraded many U. Membership is Free What are you waiting for?