British banks have announced their intention to move to EU because of Brexit – RBC

Photo: Zuma/TASS

Large UK banks may leave the country because of Brexit in early 2017 said the head of the British bankers Association Anthony Browne. He argues that smaller banks are ready to move to the EU later this year

Major British banks are preparing to move from Britain to the European Union in the first months of 2017 amid negotiations on the country’s withdrawal from the EU. In an interview with The Guardian said the Executive Director of the British bankers Association Anthony Browne.

In his opinion, “public and political debate at the moment lead us [the UK] in the wrong direction.” According to brown, smaller banks are preparing to move to EU before Christmas.

Executive Director of the Association of bankers expressed the opinion that the authorities, in the case of a start Brexit, “create barriers to trade in financial services”.

“most international banks have a design team that deal, what operations they should undertake, to ensure the continued ability to service the customers, and considering the date when it [moving to the EU] can happen,” said brown.

residents of the UK voted for the country’s withdrawal from the European Union in June this year. New British Prime Minister Theresa may to early October promised that the procedure of exit from the EU will run until March 2017. Brexit provoked by a number of phenomena, in particular, the collapse of the pound and the intention of many large companies to move business out of the country.

Sources Bloomberg in mid-August, said that large investment banks will withdraw the state from the UK in a few weeks after the procedure Brexit will be officially launched. Among these banks was called Goldman Sachs, Bank of America Merrill Lynch, Deutsche Bank, Morgan Stanley, JP Morgan and others. Deputy Chairman of the Board of Russian VTB Herbert Moos also said that the financial institution intends to transfer its head office from London for Brexit.