Major US banks have pledged to help London maintain its position as a global financial centre following Britain’s decision to quit the European Union.
The banks, which include JPMorgan, Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley, as well as UK-based Standard Chartered, promised British finance minister George Osborne that they would collaborate to identify new opportunities that may help Britain retain its position as one of the most attractive places worldwide for business.
“One of Britain’s key economic strengths is that it is a world leading financial centre. It has one of the most stable legal systems in the world, a brilliant workforce and deep, liquid capital markets unmatched anywhere else in Europe, all of which are underpinned by world class regulators,” the leaders of the banks and Osborne said in a joint statement.
“Today we met and agreed that we would work together to build on all this with a common aim to help London retain its position as the leading international financial centre,” the statement added.
Just ahead of the Brexit, JPMorgan CEO Jamie Dimon had warned of shedding up to 4,000 UK banking jobs in event of Brexit, while Citi had warned of an organisational restructuring of its UK business.