Should UK banks restrict overseas applications too?

Not sure what you are talking about Tier one visas have recently and with very short notice been much harder to get. I know my plan was to go to London but that is now dashed. You guys should lobby the government to relosen the Tier 1 visa qualifications for everyone except for people from a certain subcontinent.

Surely the question has to be "would the emplopying of UK persons before foreign nationals be advantageous to the city/UK FS industry or not?".

I think the answer is no.

America's usual protectionist/isolationist stance courtesy of a 87 year old senator in Alabama (etc) is a shame but it is the usual act of getting votes by being 'All-American'. It does nothing but hasten the demise of Wall Street.

"Stereo"

Don't "expect" that businesses overseas hire locals except for the lowest paying jobs, or for work so specialized that only the locals can do. If I read correctly about the British colonialists, they weren't exactly giving managerial jobs to the locals, were they? And there isn't much specialized work in the UK that foreigners can't do.

It seems that you don't understand that nationalism is a double-edge sword. As soon as you kick other nationals out of UK, other nations can kick the UK citizens out of their countries. Net result: living in a bubble - but need to ensure you are self-sustaining. Since the national UK debt is not lowering, my guess is that UK is not really self-sustaining.

Do you work on the same street you were born on? Then try to globalize that answer and you get the picture, the much larger picture. That is called freedom of movement. Some people understand it and enjoy it. Others still wonder what it is.

Protectionism/nationalism is self-destructive.

How about all American banks in UK stop hiring British workers?

The latest survey, indeed, shows the UK as the most nationalist country in Europe. I just blame it on education but, leave the conclusions up to you.

@depends -

why do the foreigners have to come to London? If the bank has foreign business in India / China / wherever.....why do they neeed to come to Uk? Surely the bank is global enough to do business in that country therefore employ people in their OWN country.