Sunday, 23 October 2016

Britain’s Biggest Banks To Leave Amid Growing Fears Of Hard Brexit

Britain's biggest banks will begin a large withdrawal of their presence within Britain as fears grow of a hard Brexit.

If the UK decides to leave the single market and the customs union in order to restrict the freedom of people coming into the country, lenders could move their headquarters out of London's financial district.

According to the Observer  huge companies, including Goldman Sachs could make the move by early next year, but smaller groups could depart even sooner.
The chief executive of the British Bankers Association, Anthony Browne said: 'Most international banks now have project teams working out which operations they need to move to ensure they can continue serving customers, the date by which this must happen, and how best to do it.

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