), to seek details on how a ‘no deal Brexit’ might accelerate the transfer of resources and activities from London.Earlier this year, Morgan Stanley’s chief executive, James Gorman, said that he scarcely worried about Brexit. “That’s not in my top 200 issues,” he said.
Initial estimates of potential job losses ranged from about 30,000 roles within a year of Britain leaving the EU, estimated by the Brussels-based Bruegel research group, to up to 75,000 by 2025 by Oliver Wyman. Some key activities have moved out of London ahead of Brexit. Euro zone government bond and repurchase agreements trading worth around 230 billion euros a day, along with clearing, switched to Amsterdam, Milan and Paris earlier this year.
“It’s not between now and Christmas you have to look, but on a five, 10, 15 and 20 year framework. It’s a false comfort that you are providing by only focusing on jobs,” Mackel said.
London will be London, lets see if Mr. Johnson can brake this precious prize.
Oh, yay, cos that's a GREAT reason to f' up millions of people's lives and mess up local economies for decades... FFS, get a f'in grip and get real.
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Source: Reuters - 🏆 2. / 97 Read more »