Banking Industry Eyeing Transition Price Tag of $50b as Brexit Looms

[kreslik.news]

Lenders operating in the UK have already begun rolling out their plans ahead of Brexit, laying out relocation strategies to within the EU itself. However, the flow of personnel and operations out of London could be painful for both sides, with banks potentially looking to soldier a heavy burden of additional capital.

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According to a recent report from Oliver Wyman Inc., Banks may require upwards of $30 billion to $50 billion in capital to pay for a move into the bloc – this includes the installment of new European headquarters, units, regulatory ... (read more)