Bank of America Official Likens Brexit to Nuclear Waste Move

  • Wilmot-Sitwell expects two- to three-year transition period
  • Process of moving activities from London "fraught with risk"

Bank of America Corp.’s president for Europe, Alex Wilmot-Sitwell, said moving employees and derivatives trading activities from London after Brexit would be “fraught with risk” and require a long transition period after the end of the two-year renegotiation.

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