Post-Brexit Bank Exodus Risks High Costs, Talent Loss: ChartBy
The threat of a post-Brexit exodus of bankers from London has diminished, writes Bloomberg Gadfly’s Lionel Laurent. JPMorgan Chase & Co. estimates the largest investment banks employ about 45,000 in Britain and moving each one would cost about 50,000 pounds ($66,000), according to Synechron, a consulting firm. Banks owe it to shareholders to consider the costs and wait until the regulatory framework is clearer.
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