Banks Moving U.K. Jobs Abroad? It's Rational: Harrison
Big investment banks with their European headquarters in London will start the process of moving jobs from the U.K. within weeks of the government triggering Brexit, a faster timeline than their public messages of patience would imply, according to people briefed on the plans being drawn up by four of the biggest firms. Dismayed by the lack of a clear plan to protect the U.K.’s status as a global financial hub, executives are planning for the worst -- that they will lose the right to sell services freely around the European Union from the City, said the people, who asked not to be identified because the plans are private. Bloomberg's Michael Moore reports and BlackRock Chief Macro Strategist Rupert Harrison discusses with Bloomberg's Francine Lacqua on "The Pulse."