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Goldman Sachs, Barclays, HSBC downplay Brexit threat

Fri, 24th Jun 2016 06:53

LONDON, June 24 (Reuters) - Some of the world's largestbanks have sought to play down fears of a catastophic hit toBritain's banking sector after the country voted to leave theEuropean Union on Friday.

Goldman Sachs CEO Lloyd Blankfein said the WallStreet bank, a big donor to the defeated 'Remain' campaign hadplanned for either referendum outcome for many months, in astatement issued after Britain voted to quit the European Unionon Friday.

"We respect the decision of the British electorate and havebeen focused on planning for either referendum outcome for manymonths," Blankfein said in an emailed statement.

"Goldman Sachs has a long history of adapting to change, andwe will work with relevant authorities as the terms of the exitbecome clear. Our primary focus, as always, remains serving ourclients' needs."

Barclays Chief Executive Jes Staley said theoutcome of the vote would not affect the bank's new strategy ofbeing a 'transatlantic' bank anchored in the UK and US. "Thestrategy we announced on 1 March, 2016 was not conditional onthe UK remaining in the EU."

Douglas Flint, Chairman of HSBC, Europe's largestlender, said Friday marked "a new era for Britain and Britishbusiness."

"The work to establish fresh terms of trade with ourEuropean and global partners will be complex and time consuming.We will be working tirelessly in the coming weeks and months tohelp our customers adjust to and prepare for the newenvironment."

Britain's 2.2 million financial industry workers face yearsof uncertainty and the risk of thousands of job cuts after thecountry voted to quit the European Union, leaving question marksover London's status as Europe's premier financial centre.

(Reporting By Anjuli Davies and Lawrence White, editing bySinead Cruise)

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