London has seen a string of high-profile defections this year by domestic or locally listed companies to New York in search of deeper liquidity and higher valuations, including building materials company CRH (CRH.N) and sports betting group Flutter Entertainment (FLTRF.L). Marex, one of the world's largest privately owned commodities brokers, more than doubled its first-half pre-tax profits after buying a rival last year and as interest rates climbed, the company reported in August Last year, Marex agreed to buy ED&F Man Capital Markets to boost its metals business and expand in fixed income and equities. A source close to the situation said at the time the deal was worth $220m. Britain's promises to boost the financial sector's post-Brexit global competitiveness through changes such as easing stock market listing rules have so far been a damp squib, with many of the changes yet to be implemented and none so far having a substantial impact, lawmakers said in a report on Friday....
learn more
