Thin end of the wedge ?????23 Oct 2016 13:54
Britain's biggest banks are preparing to move out of the UK amid growing fears over the ramifications of leaving the European Union, a top banking boss has warned.
The head of the British Bankers' Association, Anthony Browne, said "many smaller banks" are planning to move their operations overseas before Christmas.
Larger institutions, he said, are expected to follow within the first few months of 2017.
"Their hands are quivering over the relocate button," he writes in The Observer.
"Banking is probably more affected by Brexit than any other sector of the economy, both in the degree of impact and the scale of the implications," he said.