, News Update, Bloomberg 06 July 2020: Banks Are Ditching London Offices and Not Just Because of Covid19, Trusted Advisor

News Update, Bloomberg 06 July 2020: Banks Are Ditching London Offices and Not Just Because of Covid19

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Banks Are Ditching London Offices and Not Just Because of Covid19

https://www.bloomberg.com/news/articles/2020-07-06/banks-are-ditching-london-offices-and-not-just-because-of-covid

Banks Are Ditching London Offices, Not Just Because of Covid – Bloomberg

With the ongoing Covid19 Pandemic, Banks located in London are giving up their leases of their office space.

From what I understand, the Banks in London has long decided to consolidate or move parts of their operations to Europe, especially after Brexit decision. Could Covid-19 speed up their decisions on doing that?

As for the real estate part, WeWorks and Tech startup has filled the void of lease left by the banks, will London, being one of the Top Global Financial Centre changes its London Financial District in terms of real estate fabric? Changes of Banks’ Headquarters – to shared office of WeWorls?

What will be the future of other Financial Centres, like Singapore, Hong Kong, New York, Tokyo? Will they be following the same fate? What will happen to the Office space real estate market for these countries?

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