French finance minister eyes U.S. bank exodus from London

French finance minister eyes U.S. bank exodus from London
 

It is inevitable that big U.S. banks will move activities from London in the coming years following Britain's decision to leave the European Union, French Finance Minister Michel Sapin said on Thursday.
Senior U.S. bankers who Sapin met with last week in Washington indicated that they were no longer considering whether to leave London but plotting the transfer of business, Sapin said.
"There will be a transfer of activities to the continent. I don't know what magnitude and I don't know exactly what activities, but there will be a transfer of business to the continent," Sapin told... read more

 
13 October 2016 in Business, Views: 36
Source: Reuters
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