Impact on banks from Britain’s vote to leave the EU

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Impact on banks from Britain’s vote to leave...
 © In-Cyprus 2018
Global banks have warned they could move thousands of jobs out of Britain to prepare for the expected disruption caused by the country’s exit from the European Union, endangering London’s status as a major financial centre.

Financial services firms need a regulated subsidiary in an EU country to offer their products across the bloc, and this could lead some to move jobs out of Britain if it loses access to the European single market.

Thirteen major banks have given an indication of how they would bulk up their operations in Europe to secure market access. These plans could see more than 9,000 jobs move to the continent in the next two years.

Following are some details and reports on the subject:

STANDARD CHARTERED

Standard Chartered is in talks with regulators about making Frankfurt its European base to secure market access to the European Union when Britain leaves the bloc.

HSBC

Stuart Gulliver, CEO of HSBC, Europe’s...


Impact on banks from Britain’s vote to leave the EU


The contents of this article including any associated images are © In-Cyprus 2018
Views & opinions expressed in this article are those of the author and/or In-Cyprus .

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