Humiliation for Macron as a French newspaper admits that the UK still dominates after Brexit ‘

Five years after the Brexit, the UK continues to claim as the European financial powerhouse, even if the business world evolves on the continent.

According to the French economic commentator Amaury Allard, Writing for the new economist: “Brexit has fragmented financial activities. Amsterdam has risen to the top in stock trading volumes, Frankfurt has strengthened its position of assets management, Paris has seen an increase in recruitment and Dublin has become the European headquarters of many banks.” But despite this redistribution, “none of these centers was able to settle as an undisputed leader.”

Mr Allard noted that nearly 70 companies have been extended to different cities of the European Union (EU) in addition to their most important post-Brexit-hub, which leads to “Europe to get a share, but loses coherence.”

In the meantime, the UK has used its departure from the EU as an opportunity to reform the financial regulations.

The Financial Services and Markets Act of 2023 marked an important overhaul of rules inherited from Brussels, which sketched the reforms in the earlier Kalifa report that a new growth model for British fintechs has set up.

Today, the United Kingdom is reportedly as the world’s second largest fintech market, only the US and the VAE chased and collected $ 1.5 billion in the first half of this year, combining France and Germany.

Mr Allard also pointed to the Global Financial Centers Index (GFCI) of March 2025, which re -confirmed the resilience of London, because it was only in second place to New York as the world’s best financial center. He said that London also ‘dominates’ in insurance and asset management.

Although some business functions have been shifted about the channel, the exodus of jobs from London is not that expected.

According to the City of London CorporationThe number of city courses grew by more than 13% between 2019 and 2022, with nearly 73,000 more jobs in circulation compared to pre-Pandemic levels. Of this figure, 6000 more jobs for financial services have been added to the market within this time frame.

Mr Allard said, “While the EU is struggling to speak with one voice, London claims to be agile, Reformist center, more open than ever for Global Capital. Five years after leaving the EU, the United Kingdom did not recover its imperial grandeur – but the city certainly retained its crown.”