“It takes an awful lot of time, human capital, it’s based around the interaction of financial services. Theidea this ecosystem is transplanted somewhere else into Europe in the foreseeable future … I think to me is highly unlikely,” he told peers on the EU financial affairs subcommittee. Facebook Twitter Pinterest Sir Jon Cunliffe, the Bank of England’s deputy governor for financial stability. Photograph: PAAsked whether business would move to the US, Cunliffe said: “Could it be transported to New York? The debate about how much of its financial services industry the UK will lose as a result of Brexit is raging.

Source: The Guardian October 12, 2016 18:20 UTC