Friday, December 23, 2016

Yet Another Brexit Boost.

BREXIT BOOST: Finance business will NOT leave the City after Britain leaves, experts say. Express.

BREXIT will not cost the City of London its status as a finical hub despite fears, experts have claimed. Entrepreneur and investor Jim Mellon has brushed off concerns over London’s status after Article 50 is formally triggered, saying fears are overblown. 
The split from the EU has led many to questions the capital’s future as the largest centre for processing euro derivatives, given that the City clears three-quarters of all euro transactions.
But Mr Mellon, previously named among Britain’s wealthiest men, said: “​Clearly the finance sector is very important to the British economy but I don't think it's going to go away because the infrastructure in the City of London is just so great, it's unparalleled."
And a recent survey by law firm MLex found that a staggering 65 per cent of partners in London law firms believe the capital will retain its leading legal status as well.

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