The same forces that helped build London into a global financial superpower now appear to be lining up against it as the dust settles from last week’s Brexit vote.
Long viewed as a top destination for bankers and businesses seeking a gateway to Europe, British banks now face the prospect that talent and capital may start to flow elsewhere.
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“Don’t expect a mass exodus from London, but do expect a decline in new inward investment as companies realize they will no longer be able to access the EU from the U.K. and need to have a location inside the now-27 member union,” said William Reinsch of the Stimson Center, a Washington-based think-tank.
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