The City of London
« City firms need certainty about our future relationship with the EU »
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26.02.2019Catherine McGuinness presents the City of London Corporation’s position regarding the Brexit Issue. They maintain that a transition period as part of a deal is vital to give the financial sector time to work through this complex process. But they are already taking steps to prepare the post-Brexit era.
How does British financial industry prepare itself for Brexit? Do you fear numerous relocations of activities towards EU in the months to come?
Large City firms have been planning on a worst-case scenario since day one, so they’ve been making contingency plans to be able to continue serving customers from day one after Brexit. Because firms don’t know what the future UK-EU trading relationship will be like, they are moving some jobs elsewhere on the continent. I am more concerned about smaller firms, who may not have had the capacity to prepare as extensively.
The numbers that we’re ...
