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Thursday, May 16th, 2019

The Brexit effect: private equity firms shun UK for Europe

Author:     Javier Espinoza
Source:     Financial Times (U.K.)
Publication Date:     MAY 11, 2019
 Link: The Brexit effect: private equity firms shun UK for Europe
Stephan:   Politicians exploiting fear of the "other" and the nativism that arises from it may get a personal short-term benefit, but the long term impact on the country is always negative, and nowhere is this clearer than in the stupidity of BREXIT. Here's where that stands today as seen by one of Great Britain's leading business publications.

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https://www.ft.com/content/7dbefce0-6d92-11e9-80c7-60ee53e6681d

John Sinik wants to remain in the UK but says he could soon have no other choice but to leave. The private equity executive is being courted by other European countries, including Portugal and Italy, to move his firm there and pay substantially less tax than what he pays now in the UK.

The California-born Mr Sinik says he is conflicted. On the one hand, the UK offers good schooling for his children and it has been his home for over two decades. The UK is still the major European financial hub and it makes sense for his private equity group — Metric Capital — to be based there.

Yet, his company’s ties with the UK have […]

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