Goldman Sachs chief financial officer Harvey Schwartz also predicted a lengthy shakeout before the impact of Brexit on bank operations is known. Morgan Stanley chief financial officer Jonathan Pruzan pointed to a "high level of activity at the very end of June, primarily due to Brexit as we supported our clients." NEW YORK - Large US banks got a lift from the June "Brexit" vote in the second quarter, but could face long-term pain from a British retreat from the European Union. "There was increased volatility around Brexit that I think we were probably positioned for, and importantly with that volatility, customers came to us with their issues," said Citigroup chief financial officer John Gerspach. -US banks have their European headquarters in London, and the five largest US banks currently employ more than 40,000 people in the city.

Source: Bangkok Post July 22, 2016 04:41 UTC