, Columnist
Maybe Banks Really Aren’t Worried About Brexit
Data on cross-border lending suggest they’re not moving much business out of the U.K.
No worries.
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
In many ways, bankers seem to be getting ready for Britain’s exit from the European Union. Bank of America is setting up a new Paris office. A Deutsche Bank executive received a multimillion-euro bonus for overseeing preparations. Estimates of the number of jobs to be moved from the U.K. to other European countries run into the thousands.
Yet one thing has changed surprisingly little: the volume of business that the banks do out of their U.K. offices.