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Analysts expect banks to leave London even if Brexit does not happen.

M2 EQUITYBITES-January 29, 2019--Analysts expect banks to leave London even if Brexit does not happen

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Global Banking News - 29 January 2019

Some analysts are of the view that commercial banks will leave London even if Brexit does not happen, fnLondon has reported.

Some of the world's biggest investment banks might not cancel their plans to move people and assets out of UK even if Brexit does not happen, according to some senior managers and analysts. At least eight of the largest investment banks in London are going ahead with plans to move a significant proportion of their operations to Europe. This is because plans to move are already under way and banks have spent substantial sums on moving out of the nation. Also, banks that have already moved assets and people are unlikely to return them to the UK even if Brexit does not happen.

It is believed that the top 10 investment banks have already spent at least GBN1bn on preparing for Brexit.

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Publication:M2 EquityBites (EQB)
Geographic Code:4EUUK
Date:Jan 29, 2019
Words:196
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