We've been told, repeatedly and in screams of ever rising volume and note, that passporting is a massive problem for the City of London and financial services firms. This is not actually true as Lloyds Bank is showing:Lloyds Banking Group has reportedly chosen the German capital as the location for its European hub after the UK leaves the EU. I would have gone with somewhere a little more Slavic but that's just personal prejudice about the German attitude towards bureaucracy. As Lloyd's found out as well:Worth pointing out what Lloyd's is, it's the insurance market. As both Lloyds and Lloyd's have shown, stick a few people behind a brass plate in the rEU and the job's done once the right incantations have been uttered over the paperwork.

Source: Forbes April 17, 2017 10:07 UTC