PrefBlog

Good news! There’s a sign of success in the politicians’ and regulators’ war on finance!

Investment bankers in the U.K. favor working in Singapore over New York and London, where they face lower wage growth and higher taxes, according to recruitment firm Astbury Marsden.

Thirty-one percent of respondents chose Singapore as their most favored location, followed by New York (20 percent) and London (19 percent), the recruiter said in its annual “Preferred Location Survey.” Hong Kong and Dubai got 16 percent and 15 percent, respectively. The survey found 60 percent of bankers expect the Asia-Pacific region to the largest financial center in 10 years.

“A fast growing, low-tax and bank-friendly environment like Singapore stands as a perfect antidote to the comparatively high-tax and anti-banker sentiment of London and New York,” Mark Cameron, chief operating officer at Astbury Marsden, said in the statement. “Financial centers in the West have taken a real battering since the start of the financial crisis.”

The OSC approved settlements with Boaz Manor, John Ogg and Michael Labanowich.

It was a mixed day for the Canadian preferred share market, with PerpetualPremiums down 4bp, FixedResets flat and DeemedRetractibles up 5bp. Volatility was average. Volume picked up a little, but is still dead.

This entry was posted on Monday, August 27th, 2012 at 10:59 pm and is filed under Market Action. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.