Davos 2017: HSBC and the Jenga blocks of Brexit

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The BBC’s director of news and current affairs, James Harding, has asked Douglas Flint “what are the Jenga blocks” of Brexit, in reference to the HSBC chairman’s appearance before the Treasury Select Committee a week ago.

Basically what will move out of London and what will stay? Mr Flint says the issue is around wholesale banking: “This is most at risk because of passporting.” He notes HSBC has a large bank in France which it could divert activity to and adds that the financial industry has a clear view of what it wants but the political situation may make this more difficult.

 

Posted on by CCKeith in Uncategorized
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