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piqer for: Boom and bust Global finds
MSc. in pure Mathematics at Exeter University, UK
PhD in Philosophy at Tübingen University, Germany
Visiting Fellow at Princeton University, NJ, USA
Co-owner of a Fund Management firm in Munich, Germany
Wrote two books on finanace and economics
Currently working on a book on mathematics in the early 20th century
Worse Than Brexit?
Lloyd's of London has banned staff from drinking between the hours of 9am and 5pm. This may seem to be a footnote, but it is more than that, as the Financial Times' Mrs Moneypenny points out.
It tells us how the world of stockbroking and money management has evolved in the Square Mile since the 1980s. The long lunch is gone, as is the alcohol. This leaves us with emails and strict rules.
What, then, is the point of doing business in London, when the personal touch is gone? The place is still expensive and the weather remains horrible. You may decide that life is just as good anywhere else in Europe. So Mrs Moneypenny concludes:
In a world where risk is a four-letter word and 'know your customer' is a critical requirement of the regulator, a ban on lunchtime alcohol may not only be boring. It might even be a bigger threat to the UK’s financial services supremacy than Brexit.
