Global M&A trends and risks
Powerful new forces shaping in the M&A landscape
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Global | Publication | September 2018
The financial services industry constitutes around 7 per cent of UK GDP, directly employs 1.1 million people (two thirds of them outside London) and contributes a significant proportion of tax revenue to the UK. The banking sector is an important part of the industry, consisting of UK domestic banks and non-UK banks that have established themselves in the UK (many of which use the EU passport to conduct cross-border business).
The Association of Foreign Banks (AFB) and Norton Rose Fulbright have carried out a second Brexit survey of AFB members to gauge what the foreign banking sector’s sentiment on Brexit is at this stage of the negotiations; the first was conducted in 2017.
We would like to thank all foreign banks who participated in the survey. We hope that you find this report of use and that it provides a useful insight, at this stage of the Brexit negotiations process, as to what foreign banks’ sentiment is on this subject.
Nina Varumo is a freelance portrait and documentary photographer based in Stockholm. A recent project of hers Kvinnor till sjöss (‘Women at sea’) is on ongoing photo series highlighting the working life of female seafarers in order to change the stereotypical image of what and who is a seafarer.
Companies have been publicly reporting on their financial performance for over a hundred years. However, they are increasingly having to make public non-financial disclosures relating to sustainability and environmental, social and governance (ESG) matters as a result of rules, laws and regulations issued by stock exchanges, governments and regulators worldwide.
© Norton Rose Fulbright LLP 2023