Escape from Brexit: banks will move soon

Britain's biggest banks are preparing to move out of the country in early 2017 because of fears over the impending Brexit negotiations as Anthony Browne, chief executive of the British Bankers Association, said in an interview published by The Observer on Sunday.
The CEO cited fears the European Union politicians will want to erect trade barriers during the Brexit negotiation as a reason for the planned moves. So rather than risk weakening the strength of the City of London's financial prowess during negotiations, a number of companies are preparing to move wholesale.

“Most international banks now have project teams working out which operations they need to move to ensure they can continue serving customers, the date by which this must happen, and how best to do it”.
“Their hands are quivering over the relocate button. Many smaller banks plan to start relocations before Christmas; bigger banks are expected to start in the first quarter of next year,” Browne wrote.

Mr Browne added: "For banks, Brexit does not simply mean additional tariffs being imposed on trade – as is likely to be the case with other sectors. It is about whether banks have the legal right to provide services."
And Brown, finishing his claimsm added: "Banks might hope for the best but have to plan for the worst".