Bank Bosses Soften Tone on Brexit as May Extends Olive Branch
- Gone are threats of imminent exodus and economic calamity
- Finance executives say London’s status not under threat
British Prime Minister Theresa May.
Photographer: Daniel Leal-Olivas/AFP via Getty ImagesThis article is for subscribers only.
Global bank executives are softening their warnings that the U.K.’s looming withdrawal from the European Union will spur an imminent exodus of staff from London.
Bankers are gaining confidence that U.K. Prime Minister Theresa May will be able to secure a lengthy transition period that would carry them over from the current rules to whatever fresh terms of trade are agreed with the EU, according to two people with knowledge of their firm’s contingency plans. That’s led to more measured language from many of the industry’s leaders.