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EU finance sector risks losing competitiveness after Brexit is finalized, says UK's ex-FM at VER anniversary

Senior advisor at BlackRock George Osborne saw a lack of support to improve the competitive environment for EU hedge funds during his time as UK finance minister. Without the British voice shaping the EU's financial services, the EU's financial sector could lose its competitiveness, he argued at the 30th anniversary event of the State Pension Fund of Finland last week.
“As a Finance Minister I felt that there were not many finance ministries or governments in the EU wanting to make a big point in trying to keep environment competitive for hedge funds," said George Osborne in Helsinki last week. | Photo: Stefan Wermuth/Reuters/Ritzau Scanpix/REUTERS / X90073
“As a Finance Minister I felt that there were not many finance ministries or governments in the EU wanting to make a big point in trying to keep environment competitive for hedge funds," said George Osborne in Helsinki last week. | Photo: Stefan Wermuth/Reuters/Ritzau Scanpix/REUTERS / X90073
by REETA ILONA PAAKKINEN

Financial regulations could become less competitive in future EU without the UK’s input, believes George Osborne, former Finance Minister of the UK and senior advisor to BlackRock Investment Institute.

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