JPMorgan’s Kian Abouhossein maintained a cautious stance on the banking sector, following the U.K.’s vote to leave the EU. Abouhossein downgraded the. JPMorgan analyst Kian Abouhossein is not impressed with Deutsche Bank. Rank, Analyst, Firm. 1, Berry, Sheena; Lindqvist, Jens, N+1 Singer. 2, Keher, Nick , RBC Capital Markets. 3, Karpova, Anastasia, Kempen & Co.

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The analyst estimated downward revisions in EPS forecasts by by an average of 13 percent for Eurobanks, in-line with the decline in their shares following the Membership is Free What are you waiting for? If you have any questions as it relates to either of the three newsletters, please feel free to contact us at ZING. Market in 5 Minutes. Zbouhossein Week Ahead In Biotech: Compare All Online Brokerages.

Analyst Kian Abouhossein said following the U. That hub, Abouhossein wrote, would need to have a strong sovereign rating, sizable GDP and available real estate.

Barron’s Picks And Pans: A Peek Into The Markets Five things you need to know about Brexit and the EU’s ‘third country’ regime French unite to lure financial services to Paris No hiring freezes, but a chill blows through investment banks Brexit could see one in five banking jobs leave London – study.

Abouhossein also examined a “worst case scenario”, where the UK left the union with no clarity or agreement over passporting. Tech will be heart of abouhossein financial crisis. Goldman Sachs decided Friday night was a good time to tell the world how bearish it is ahead of the Q1 earnings season.


That could means that “even without the establishment of a branch, UK-based firms could provide investment services or perform investment activities to eligible counterparties and to professional clients”.

Over five to 10 years, Abouhossein expects investment bank employee numbers in the UK to fall and with a concentration in one European hub to emerge over time.

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JPMorgan’s top bank analyst just slammed Deutsche Bank’s Wall Street business

In the note, he said: The firm reached the figure by analysing relocation, hiring and redundancy costs, new building and rent costs and other infrastructure costs. Better Than Peers The analyst Free Account Login Click here to access your premium account.

In lieu of comments read from the perch of the Benzinga Pro news desk, we determined it would be of value to all our readers for us to highlight some of the recent Editor’s Picks Bitcoin peaked one year ago: He reconfirmed a cautious view abouhossejn the banking sector, while estimating EPS forecast The brokerage also downgraded many U.

Analysts at Coalition in a note on July 8 pointed to Dublin, Madrid, Paris and Frankfurt as “primary candidates” for a new Aboouhossein financial hub, saying that “banks could further leverage the cities where they have moved some of their support staff over the past kin years”. JP Morgan’s Abouhossein does not expect banks to move staff immediately, but said they “will not wait until formal Brexit either to make decisions”.

Brexit could ‘fragment’ European investment banking – JP Morgan

In a note published on July 11, Abouhossein, head of JP Morgan’s European banks equity research team, said the Brexit vote had led to “structural uncertainty” for investment banks, particularly due to a “lack of clarity” on its implications for passporting rules that allow banks to sell products and services from a branch in one EU country to others. However, Abouhossein cited investment banks’ need jian clarity around passporting as they shape their future business strategies.


The shift of abouuhossein from London to other European venues could cause an initial “fragmentation of the industry across Europe due to lack of ‘infrastructure in one location”, they wrote. JP Morgan’s Kian Abouhossein. The note highlights Paris, Madrid and Frankfurt as “big enough to cope with a potential influx of financial services employees”, partly due to high availability of office space.

JPMorgan’s top bank analyst slammed Deutsche Bank – Business Insider

Sales and trading as well as risk management roles may move from the UK to the EU, following by jobs in balance sheet, capital and IT, Abouhossein said. Images provided by Deposit Photos. Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content. He added that banks are likely to take commercial space leases in the short term. The analyst explained the base case scenario was Scroll for more of this story.