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MJ Hudson on the costs of moving amid Brexit

Paul Hodgson | October 11, 2017

“Whatever you budgeted, double it. It’s like building a house from scratch; you start off thinking it’s going to take you six months and cost half a million, and then you find it takes you twelve months and costs a million.”

This was the analogy provided by Matthew Hudson, chief executive officer of asset management consultancy MJ Hudson, on his company’s setting up an office in Luxembourg so that it could continue to access the EU fund management passport, and distribute funds across the EU, post-Brexit.

The second in this series of case studies examining compliance headaches for companies caused by Britain’s decision to exit the European Union looks at the example of a financial services company, not a behemoth like JPMorgan or HSBC, but a small firm of 125 professionals providing law, fund management, international fiduciary, investment advisory, and investor relations and marketing services from offices across Europe, including Jersey and Guernsey.

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