British bankers: London remains a Financial centre, Regardless of the Brexit Outcome. High-ranking British bankers state on Thursday that London remains an important financial centre worldwide, whatever the shape of the Brexit.
For example, Barclays president John McFarlane states that he is confident that ‘The City’, as the financial centre of London,
is also called, will have access to Europe after the Brexit.
“The European capital market will be based in London on March 30, no matter what.”
Norman Blackwell, chairman of Lloyds Banking Group, even views the Brexit as an opportunity for financial institutions that focus on the UK.
The withdrawal could lead to “stable regulation” and less burdensome capital and reporting rules.
The bankers say this eight days before the official retirement date of March 29,
while no deal has yet been decided between the European Union and the UK.
Many banks, insurers and asset managers, including Barclays,
have moved more than 1 trillion pounds worth of assets abroad in preparation for the Brexit.